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Halloween pumpkin with US dollar bills

Can businesses make money from Halloween?

on November 16 | in All, Other | by | with No Comments

Halloween is seen as a time for children to go trick or treating and for adults to dress up for Halloween themed parties and nights out, but what does Halloween mean for a business? Though most businesses won’t have a link to the day itself, there are ways they can use Halloween to their advantage in a financial and economic way.

Halloween bucket of money

Halloween bucket of money

How Can Businesses Benefit From Halloween?

There are a few different ways in which businesses can benefit from Halloween and they don’t necessarily need to a Halloween slot online. They can either attract new customers online/offline, or simply market themselves to a new audience. At the end of the day, businesses can make a large amount of money if they prepare the right strategies:

? By benefiting from an increase in sales and more potential customers
As Halloween is such a fun and exciting time of year, many customers are willing to spend a lot of money on achieving the Halloween dream. This could be in the form of buying the ideal outfit, decorating their house, organizing a trip to a Haunted House or buying Halloween treats. Whatever a business sells or produces, there’s the potential to increase sales and customer traffic simply by embracing the interest in Halloween themed products. By enticing new customers in with Halloween, a business is likely to keep them as a return customer in the future.

? By showing customers that they are on trend and current
Like other special events and festive holidays, Halloween is a fantastic way for a business to show that they are aware of current trends. Not only does this showcase them as being aware of what their customers like and are interested in, but it sets them apart from the businesses that don’t.

? By using Halloween as a marketing event
With Halloween comes an array of unique and interesting products, making it the ideal time for businesses to utilize what they have and market themselves to a new audience. For example, clothes shops can begin to stock Halloween themed costumes and tourist attractions can hold spooky nighttime events or special tours.

? By exploring the online segment more efficiently
Even though we are indeed in the “online era” when it comes to businesses, a lot of stores still rely heavily on physical sales. Halloween could be a true turning point in many businesses’ sales strategy if plans are executed in the most appropriate manner. Going online doesn’t necessarily mean a business will go on a quest for new customers outside their area. In fact, it could simply be a more effective way of make their message and products seen by customers who have been around the whole time but never felt tempted to make a buy. Understand your market, your competition and plan a measurable campaign online.

As you can see, if a business embraces Halloween there’s no reason as to why they cannot benefit from the event financially. Whether it’s selling Halloween specific products or appealing to a new crowd, Halloween could mean big things for businesses of all sizes.

Sources: nypost.com / businessinsider.com

Halloween poster

Halloween poster

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