To identify expected changes in consumer sentiments regarding the upcoming Halloween celebration and how brands are reacting to it.
- Hershey, a top manufacturer of candy, recently stated that it would be adopting a "flexible approach" to sustain its sales for Halloween. According to its CEO, the company is proactively planning for Halloween and partnering with partners to kickstart marketing efforts earlier than usual due to the dampened future sales caused by the COVID-19 pandemic.
- The CEO added that Hershey expects consumers to reign in Halloween celebrations this year and keep celebrations more in house, so it's hoping to capture more sales outside of the trick or treat occasion.
- Party City, a leading party goods company in the US, recently issued a communication where it disclosed that it expects a decrease in Halloween sales due to the economic slowdown and supply constraints as a result of COVID-19.
- Doug Liberman, the CEO of Splendid Chocolates, shared his concerns about Halloween 2020 in a recent interview. According to him, the risk of contracting the virus and kids eating candy that was touched by unknown persons can create hesitation around trick-or-treating.
- The CEO also added that they plan to focus on smaller parties where close friends and family will be in attendance, and they believe most families will celebrate Halloween in a similar manner.
Summary of Findings
Our preliminary findings indicate that Halloween 2020 will most probably not be celebrated in its usual manner, and brands are mitigating this situation by either commencing advertising efforts earlier than usual or redirecting their efforts to focus more on close family gatherings and less on trick-or-treating.
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