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Last year, Halloween delivered £325m in sales in the UK and $6.9 billion in sales in the US – retailers and suppliers will be keen to exploit the period’s growing potential this month. There are a number of important steps that retailers and manufacturers can take during Halloween to innovate in private label products, engage with consumers, and make the most of this multi-million pound opportunity.
First, retailers and manufacturers can drive success by collaborating on private label offerings this Halloween, creating innovative new products and quickly bringing them to market. With Halloween dominating shelves throughout October, it is important that retailers make the most of the seasonal period by having a fully transparent view of private label product ranges and specifications. This can help retailers make changes across multiple ranges quickly and turn innovative ideas into reality. For example, offering imaginative and colourful confectionery, such as Sainsbury’s ‘Ghoulish Cupcakes’ is a fun way to entice shoppers and may require relatively minor changes to existing product specifications. By innovating in seasonal products like this, retailers and manufacturers can drive additional margins with relatively little effort.
Wrapping for mummies
Halloween ranges of private label products can engage shoppers and now compete strongly with branded offerings; providing welcome alternatives to shoppers. Furthermore, by effectively sharing information throughout the product creation process, making changes to packaging becomes more straightforward. For example, retailers can easily create private label confectionery for trick-or-treaters by offering smaller pack sizes or adding images of ghosts and ghouls to packaging. Examples of stores who have effectively leveraged Halloween private label products include Asda, which offers a range of costumes, props and snacks as well as a promotional Halloween blog. Harrods has also embraced the Halloween season with its premium ranges: producing a spooky range of seasonal hampers, confectionery and even tea! Changing packaging can clearly be a very effective way of engaging with consumers throughout the upcoming season.
Making a killing
Making the most of the Halloween period can even expand beyond innovating with new products and extend to managing promotions. For example, when offering relevant national brands to customers, the ability to quickly secure, agree and record seasonal promotions can allow retailers and manufacturers to capitalise on consumer demands during the period and account for it accurately after the event.
Retailers and manufacturers can clearly explore a range of opportunities over this Halloween period but choosing the right approach can help towards success. Creating innovative packaging, quickly driving new private label lines to market and effectively delivering appealing promotions has the potential to ensure retailers have a devilishly good Halloween season.