In the special edition of Alkami Data Bites, we examined when consumers do their Halloween costume shopping. Halloween costume spending, revealed by monitoring transactions at specialty Halloween stores like Spirit Halloween or Halloween Express, starts in early September and slowly builds week by week. Consumer spending accelerates once October hits and increases each week until a big peak the weekend before the big day. Last year, during the time period analyzed, the majority of Halloween consumer spending took place on Fridays, Saturdays, and Sundays.
Spending doesn’t stop immediately after Halloween. The day after Halloween in 2023 had more dollars spent than any individual day in September as bargain shoppers are likely getting a head start on next year with stores looking to unload the rest of their inventory on clearance.
Get in the spirit of the holiday! Understanding everyday consumer spending patterns can help your financial institution stand out. Create personalized messaging during the weekends to remind your account holders to use your debit card when choosing their costume.
