Monday, October 03, 2022

Inflation + Lockdowns = No Halloween

Because the war on Christmas is not going as planned:

After two years of COVID-19 restrictions curbing Halloween, Canadians are expected to ramp up celebrations this year.

But the rising cost of goods and ongoing supply chain issues could put a kink in demand for costumes, candy and decorations.

New research by the Retail Council of Canada suggests 86 per cent of Canadians will spend the same or more on Halloween this year compared with last year, with many making purchases a month ahead of time.

Consumers also appear willing to open their wallets for a trendy new costume or to stock up on candy, with more than half of Canadians celebrating planning to spend more than $50.

“I think Halloween will be met by huge demand,” said Tandy Thomas, an associate professor at Queen’s University’s Smith School of Business.

“Halloween spending will likely mimic the strong consumption behaviour we’ve seen on travel and restaurants in recent months. There’s a lot of kids that haven’t really been out trick-or-treating for two years that will be itching to get back out there.”

That being said, Canadians feeling the pinch of soaring inflation may give out fewer treats, turn off the porch lights early or opt out of Halloween altogether.

Shoppers may also feel squeezed by so-called shrinkflation in the candy aisle – manufacturers putting fewer chips in a bag or candies in a box but still charging the same price.

 

You know who to thank for that, Canadians.


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