The Spirit (and Profit) of Halloween
From twelve-foot skeletons in the yard, to projection mapping light displays on their houses, Halloween has become a multi-billion-dollar industry. Halloween festivals such as the Haunted Happenings in Salem, Massachusetts attracts almost a million visitors in the month of October, with tourism spending generating around $30 million for the community, and $2.5 million in tax revenue.
The National Retail Federation expects Halloween spending in the United States to reach $12.2 billion in 2023, exceeding even pre-pandemic levels. Costumes are a big part of that income. The National Retail Federation estimated 69% of consumers participated in Halloween celebrations in 2022, generating $10.7 billion. Spirit Halloween, a costume, accessory, and decoration retailer, built a business model of seasonally moving into vacant stores. An estimated $400 million each year comes from their seasonal sales.
