A seasonal retail outlet called Spirit Halloween sells Halloween costumes, props, and decorations. The business was established in 1983 and has since grown to become one of North America’s biggest retailers of Halloween products. Spirit Halloween frequently gets asked how much money they make, and their response is surprisingly impressive.
Spencer Gifts LLC, the parent company of Spirit Halloween, claimed $1.6 billion in revenue in 2019, with Spirit Halloween accounting for the majority of that amount. The company’s sales increased by 3% from the prior year, continuing a trend of gradually rising numbers over the years. The business has over 1,400 locations throughout the US and Canada, with the majority of them opening in late August and shutting down just after Halloween.
Other retailers, like Hobby Lobby, also sell Halloween decorations and accessories, despite Spirit Halloween being the market leader in the Halloween retail sector. Hobby Lobby does not, however, sell Halloween costumes. Instead, they emphasize fall-themed crafts and decor.
Costumes and decorations are the top two items that Halloween buyers spend the most money on. Americans spent an estimated $8.8 billion on Halloween in 2019, with $3.2 billion going into costumes and $2.6 billion going toward decorations, according to the National Retail Federation.
Most individuals often buy their Halloween costumes from either a brick-and-mortar business like Spirit Halloween or online retailers like Amazon or Party City. Some people, however, like to make their own costumes out of materials they may find at thrift shops or craft stores like Michaels.
What happens to unsold Halloween goods varies depending on the store. While some stores might decide to keep the things until the following year or even sell them at a discount, others might decide to give the items to charity. For instance, Costco offers a 100% satisfaction guarantee and will take back any unsold goods.
In conclusion, Spirit Halloween is the market leader in the Halloween retail sector and a very successful company. Spirit Halloween continues to be the go-to location for Halloween costumes and decorations, even if rival stores like Hobby Lobby provide fall decorations and accessories. Spirit Halloween is obviously here to stay based on its yearly revenue growth.