Well, it’s fair to say that the once traditionally American holiday Halloween has well and truly got its feet under the British table or should I say has its hands in Britain’s pockets.
The annual event is expected to provide more than £271 million of benefit to the UK retail sector this year, adding 5% to its annual growth and making it the UK’s third most profitable seasonal period.
So if you are a food manufacturer, packaging innovator, retailer or a consumer, why not get on your scream mask and join in!
Food manufacturers benefit largely from this holiday’s festivities by incorporating seasonal flavours and ingredients such as pumpkin and chestnuts in to their products, allowing premium rates to follow.
This year, more than any, discount stores are also likely to reap the most benefit with a 16% growth in product sales expected through the channel.
Traditional retailers need to fight back – but how can they compete with the discount channel I hear you ask?
Retailers have space. Why not use it? Pull out all the stops to get your customers in by creating exciting elaborate displays and organising instore events. Impulse low value products are also an area to focus on especially for that trick or treat attire for the kids.
According to Fung Business Intelligence Centre, half of UK shoppers are still not spending on Halloween and only 2 in 5 parents are actually buying sweets for trick or treating according to Mintel. This leaves a large room for growth so next year retailers and manufacturers, it’s time to get your witches hats on and get thinking!
Happy Halloween from all at LINPAC!