Updated: August 31, 2020 06:23 AM
Created: August 29, 2020 05:03 PM
ALBUQUERQUE, N.M. — Notice anything unusual while grocery shopping? Like Halloween seems to be here – before August is even over?
There's a reason for that. The $9 billion industry could be seriously impacted by the pandemic and companies are nervous that people won't be buying candy.
"From a marketing and finance perspective, we see that companies have responded by generating and getting interest in Halloween early," said Reilly White, an associate professor of finance at UNM. "Knowing that even though consumers are much more careful about the time they spend in stores, they're still going to be exposed to Halloween and merchandise."
Companies are hoping that if the products are out for a longer period of time, then the public will be more likely to pick some up.
"Halloween will be the first real test we've seen of our adaptation to the pandemic and our consumption habits and the way we interact with other people," White said.
Pumpkin spice lattes are back at Starbucks, and there's Christmas trees already out at Hobby Lobby.
"The average American family spends about $90 typically on Halloween merchandise," White said. "That's a lot of money for New Mexican families."
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