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According to a recent report by Ad Age, the U.S. will spend upwards of $6.9 billion this Halloween season, up from $5.8 billion from last year and double the figure from 2005. Seven out of ten Americans plan on celebrating spook, up 64% from last year, with each likely spending an average of about $74.31, compared to 2010's budget of $66.28 per celebrant.
While alcohol sales and candy purchases account for a large portion of these figures, a significant percentage lies behind the facade: costume sales. Those grim reaper sickles, Raggedy Anne wigs, and Scream masks all rake in the dough in pop-up costume shops and novelty stores, but much is hidden behind the production of guises.
The costume and merchandising business live hand-in-hand, with an important focus centering around October 31st. But be wary: there is more behind the business of dressing trick-or-treaters and Monster mashers - a lot of careful work goes into the licensing, production, and profit of Halloween costumes.
Here are 2 key items to consider:
1. Licensing: You know the costumes – the “official” Disney costumes, Lady Gaga, Jersey Shore, DC Comics, Seaseme Street, Top Gun and Angry Birds. Celebrities, brands or shows license out the use of their name, likeness and photo and benefit from doing so. If a movie owns the rights to a photo (including a personality in it), and uses it to promote costumes (think Hannah Montana last year via Disney), then the celebrity may or may not get a cut of those license royalties.
2. People impersonating licensing – When manufacturers don’t want to pay for the official licenses, you’ll see things like “outrageous pop star” (Lady Gaga anyone?), New Jersey party girl (Snooki), California Girl (Katy Perry) or Storybook Beauty Belle (Beauty and the Beast Belle). By doing this, manufacturers save money (and celebrities lose it).
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