Get ready to scare away supply chain issues this Halloween! Check out these 3 spook-proof strategies for a resilient and spooky season ahead.
Did you know? Halloween spending hit a record high of $12.2 billion last year, as reported by the National Retail Federation. This includes purchases on costumes, decorations, greeting cards, and candy. The figures surpassed the previous high of $10.6 billion – showing just how much people are willing to invest in celebrating this spooky holiday. It’s clear that Halloween is a huge economic driver with consumers eager to participate in the festivities!
“More Americans than ever will be reaching into their wallets and spending a record amount of money to celebrate Halloween this year,” said NRF President and CEO Matthew Shay from a recent news release. “Consumers will be shopping early for festive décor and other related items and retailers are prepared with the inventory to help customers and their families take part in this popular and fun tradition.”
Discover innovative strategies that leading brands are implementing to exceed consumer expectations and capitalize on the Halloween craze. Stay ahead!
Did you know that early planning is vital for supply chain resilience? When it comes to successful Halloween campaigns, meticulous forecasting of consumer demand is key. Brands often need to make decisions 18 months to two years in advance in order to ensure they can meet customer needs effectively. By staying ahead and preparing early, companies can navigate potential challenges and uncertainties with ease, setting themselves up for success during the busy holiday season.
Retailers are stepping up their game by initiating sourcing activities much earlier this year. By starting preparations approximately a month ahead compared to last year, they can proactively adjust production to cater to emerging trends and demands in the market. This strategic approach enables them to stay ahead of the curve and better meet consumer needs with timely and relevant products. Stay tuned for exciting new releases!