Spooky season is just around the corner and retailers are already readying themselves for the haunting holiday. Like the launch of seasonal items like pumpkin-spice lattes, retailers and consumers alike are celebrating festive holidays like Christmas and Halloween earlier every year. Even though the leaves have just started changing colours, US retailers like home decor-slash-arts-and-crafts chain Michael’s and home improvement chain The Home Depot started selling Halloween-related merchandise from July 7 and July 13, respectively.Online research of Halloween makeup and costume ideas are already underway, with consumer trend analytics firm Spate confirming that searches for terms like “simple skeleton makeup” are up 62.9 per cent, and “simple witch makeup” up 50 per cent, compared to last year.While it seems that consumers are already preparing themselves for the Halloween season, studies show that their wallets aren’t as ready. Seasonal holidays are what (retailer) dreams are made ofIt’s no secret that there’s a lot of money to be made off of holiday-related consumer goods or sales events, especially ones that are centered around visual design, like Christmas or Halloween. Data released by American bank holding company Capital One revealed that Americans spent US$10.6 billion in total for Halloween in 2022, with just over US$3 billion on Halloween candy alone. In 2022, the average American had a budget of US$100.45 budget for Halloween, with about US$29.51 allocated to candy. According to the National Retail Federation, the total budget was roughly made up of four parts: costumes (33.71 per cent), decor (31.85 per cent), candy (29.14 per cent), and greeting cards (5.29 per cent). Consumers are more scared of treats than tricksA report conducted by consumer behavior analytics company PowerReviews found that 73 per cent of consumers surveyed said that their Halloween shopping will be impacted by financial constraints, like inflation. In 2022, inflation data gathered from the Labor Department showed that the price of key Halloween goods like candy, costumes, and pumpkins rose 13.1 per cent, 6 per cent, and 4.9 per cent accordingly compared to the year prior.  Twenty-four per cent of consumers are planning to reuse existing costumes, while 34 per cent will be buying cheaper Halloween candy. Forty-four per cent of consumers said that they will be looking for bargains and coupons for Halloween shopping. Interestingly, while the average American’s Halloween budget in 2022 declined US$2.29 or 2.23 per cent, in comparison to the year prior, the nationwide retail spending for the same year increased by an estimated US$500 million or 4.95 per cent year-over-year. Sixty per cent of the growth was due to increased total spending on costumes.Consumers plan to shop via a combination of online and in-store retailers for Halloween products. The top shopping destinations for costumes will be Amazon (61 per cent),  specialty Halloween/costume stores (48 per cent), chain retailers like Target and Walmart (39 per cent), and thrift stores (21 per cent). Fashion retailers need to hop on the Halloween bandwagonResale fashion retailers should take advantage of the heightened interest in thrifting and archival fashion, especially amongst the Gen Z consumer base, in regard to the Halloween season. 2023 provided the general public with ample opportunities to dress up in themed costumes, from all-pink attire to watch the Barbie movie to members of the Beyhive dressing up for the Renaissance tour. There are a few ways apparel brands can cash in on the public’s excitement about dressing up for All Hallows’ Eve. Similar to how e-commerce sites like Nasty Gal curated a portion of the site to concert-ready pieces, retailers need to guide consumers toward potential costuming opportunities with their available stock. A representative from retail intelligence company Edited predicted that consumers will be looking towards pop-culture references for inspiration for this year’s Halloween costume. “Due to the numerous big movie releases this year, Edited predicts Barbie and Ken costumes will be in high demand alongside Mermaidcore looks emulating Disney’s live-action The Little Mermaid. A perennial favorite, gothic and preppy styles referencing 2022’s Wednesday will continue to be sought out.”Edited’s representative also pointed out that consumers’ rising interest in sustainable shopping could be another way for retailers to dive into the Halloween spirit.“The influx of newness reflects the event’s ethical and environmental concerns, sparking the ‘Hallogreen’ movement. Retailers should consider partnering with a resale app to offer customers an exclusive discount during National Consignment Month to encourage second-hand alternatives or promote how stock can be repurposed instead of framing products as disposable costumes.”Will consumers be in the Halloween shopping spirit this year?While consumers are a bit more heedful about how they make use of their Halloween budgets, like navigating sales and similar deals to save on costs for items like candy, they appear just as eager to celebrate Halloween in full style. Edited’s representative explained that “retailers have expanded their investment in Halloween-specific products for 2023, which has already resulted in increased sales activity. Products arriving for the first time online at US sites since August are up by 10 per cent, while the number of styles selling out of majority SKUs has grown 21 per cent year-over-year.”