Is Halloween the new Christmas?
Gosh. I hope not. But the spooky holiday has turned into a $10 billion business for retailers. This is not your mom’s Halloween anymore. Just walk through any neighborhood, and it’s obvious that the holiday has exploded. Ten years ago, outdoor decor was reserved to jack-o-lanterns and maybe the occasional fake skeleton on the porch. These days, if you don’t have a 15-foot blow-up Frankenstein on your lawn that shoots out Milk Duds, you’re clearly a Scrooge.
40% of Halloween consumers planned to spend on outdoor decoration. Millennials budgeted roughly $255 for the holiday, with Gen Z close behind with $202. Take a stroll down my street and these numbers feel modest at best.
In 2020, Home Depot introduced a 12-foot skeleton with LCD eyes for $299. The product was a viral hit, and has sold out every year since. This year, the retailer introduced more larger than life characters, including a 12-foot witch, a 9.5-foot werewolf, and even a 15-foot phantom. That one will only cost you $399. Which is roughly 3,000 mini Butterfingers. But to each his own.
Such holiday decor extremism is certainly nothing new for Christmas. Now that we’re almost an entire week into November, you better believe a lot of folks are swapping their skeletons for blow up Santas. With consumers expected to top $960 billion this season, retailers say, the earlier the better.
But a certain someone in Pennsylvania has had enough. She was caught on film last week tearing down her town’s Christmas decor. The local Sheriff says the perp faces possible criminal charges. But in all honesty, is she really a criminal that should be punished? Or more of a modern-day vigilante to be celebrated? TBD.
More interest rate hikes. And more inflation.
Well, this stinks. Inflation isn’t getting better anytime soon. In an attempt to ease the blow on Americans, Federal Reserve Chair Jerome Powell sought Wednesday to slow the government’s aggressive interest rate increases. After the policy meeting, it was announced that the Fed was pumping up its benchmark rate by three-quarters of a point for a fourth straight time, marking the highest key rate range in 15 years.
While financial markets were hopeful to hear of slow hikes, Powell didn’t exactly paint a rosy picture of the days ahead. “We still have a long way to go.” He reiterated the central bank’s commitment to raise rates further in an attempt to tame multi-decade highs in inflation. Powell says rates might need to rise as high as 4.6%.
Long story short? Get used to paying a ridiculous amount. For everything.
Best of the Week
Stats to See
A sign of the times. In just two years, the share of US adults who say they regularly get news from TikTok has roughly tripled, from 3% to 10%. Good thing TikTok videos are super reliable news sources.
Hate to sound like the Grinch, but retailers are struggling to navigate an uncertain market this holiday season. COVID plus inflation equals… something not great. Here’s a look at what to expect.
A call to action can make or break your social media campaign. Here are 17 great examples. If you immediately think of the old ShamWow commercials when you think of CTAs, you need a refresher.
Can we all agree the tree doesn’t need to go up until after Thanksgiving? Please. Let’s watch some football and relish in the Turkey month. Santa will have his moment.
More News from the Week.
- Just when we thought Juicy sweatpants were finally gone, they added mayonnaise.
- Taylor Swift makes Billboard history, claiming all of the Top 10 spots on the Hot 100 list. Dang.
- The newest Avatar movie has a runtime of over 3 hours. Seems excessive.
- Throwback. A video account of downloading music in 2000.
- Fall back, friends. The time change is here. For those with small kids, this one hurts. And for those without small kids, this one hurts.
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