We might be strolling into summertime but our retail heads need to be thinking as far as Halloween right now, marking the start of Golden Quarter preparation. Over in the UK we might not get as excited about the scary festivities as our friends across the pond, but it’s worth bearing in mind that Halloween usually takes in about £300 million per annum.
That might be short change to the US’ $8.4billion spend on the ‘holiday’, but our retail value in Halloween is growing year on year, with a huge potential revenue opportunities for years to come.
The Big Four Supermarket chains definitely benefit the most from these festivities. Asda has become renowned for its costumes, claiming that in the past five years the supermarket has seen its Halloween product sales raise by 42%. Making the category a major part of the supermarket’s annual sales opportunities.
However, The Grocer revealed that whilst Halloween is succeeding and sales continue to rise, Halloween branded products are falling. According to IRI, the sale of Halloween confectionery fell by 25.6% in 2016. Non-food Halloween accessories and products, alongside pumpkins, continued to increase, but confectionery fell.
Supermarkets are reporting that they are seeing a large increase in big multi-buy sweets and retro sweet lines. This is highlighting how consumers are clearly starting to look for better deals and promotions that are driven by price, rather than a branded up and themed product.
So, what can brands do and how does a field sales expert help?
Now is the crucial time for brands to ensure their products are being presented to consumers in a way that best capitalizes on the impulse purchase of Halloween. Decide early whether the theme of the event or the price offer is the most crucial part of your sales opportunity. This will ensure you have a clear strategy from the get go. And will give you clear predictions of your sales results after the event.
By the start of June, brands need to be working with their field sales team to start communication with the retailer, discussing the Halloween products that will be going out from the start of September and throughout October. Gaining store buy in from this early stage will be incremental in the success of your Halloween period.
As always Visibility, Accessibility and Availability are key to smash last year’s results and make sure your Halloween is a screamer. If you want to achieve those frighteningly good sales reports, just remember our retail golden steps for planning any sales events:
Three – five months to go:
- Organise your distribution & availability drive of seasonal SKU’s
- Set up of new plans to secure space early in all retailers
- If you’re looking for in-depth, real time help, we can provide you with TSeye data-led weekly calls to drive efficiencies
One to three months to go:
It’s time to ask yourself if you’re ready for the following to happen:
- Distribution & availability drive to maintain position throughout sales peaks
- Promotional execution to maximise sales throughout the next three months
- Extra displays to drive points of interruption and maximise those sales at every opportunity
- Capitalise on surrounding sales opportunities and events, can your products be used across both events?
- Volume orders – get these sorted early with your stockists. Remember supply chain can easily get jammed so don’t want to miss out.
- Promotional execution & extra displays created at any given opportunity
- Merchandising calls to drive availability & ensure sell through of seasonal sku’s
- New stock to be ordered and ready for displays post event
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