Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In
Back to The Anchor

Theme Parks: Pre-Halloween Celebrations Portend Well for Halloween Night

Thomas Paulson
Sep 29, 2023
Theme Parks: Pre-Halloween Celebrations Portend Well for Halloween Night

The WSJ ran an interesting story titled, “Theme Parks Pin Hopes on a Fall Rebound After Summer Flop” where it read, “Parks also seize on the festivities to get a jump on selling next-year season passes. Six Flags recently marketed discounts of up to 70% on 2024 season passes, which also include admission to Fright Fest and its Oktoberfest parties. At the chain’s park in Arlington, Texas, the highest-grade 2024 season pass was on sale for $110 a person, down from $170." The article also noted that, "Financial challenges are weighing on consumers’ willingness to spend. According to a recent survey from the National Retail Federation, about three of every four consumers said their Halloween shopping will be affected by economic challenges. Still, Americans are expected to spend $12.2B on Halloween celebrations, up 15% from last year, according to a separate survey from the trade group.”

Recall our previous story on Universal Studios Hollywood and its Halloween Horror Nights event. This year, the event is running well up from 2019 (+78%) and last year. Compared to last year, visitors are staying late (with over 31% of visits past 10:00 PM), but the length of visit is slightly down with the average at 201 minutes versus 210 minutes last year. This shows that consumers are still in a celebratory mood, and that spending for Halloween is going to be solid (although +15% seems a bit too optimistic in our opinion).

Schedule a Call

Required
Please enter your email
Required
Required

Thanks for reaching out!

I’ll be in touch soon

Go Back
Oops! Something went wrong while submitting the form.

Thomas Paulson

Director of Research and Business Development, Placer.ai

Thomas Paulson spent 20 years as a Wall Street analyst and a member of asset management teams at AllianceBernstein and Cornerstone Capital, representing top-50 ownership positions including Target, Home Depot, Nike, Amazon, Google, and many more. He brings consumer related expertise and knowledge of enterprises in retail, CPG, financial services, telecom, and entertainment.

Schedule a Call
Related Articles

Black Friday’s Big Winner? Malls

Black Friday 2024 provided valuable insights into consumer behavior as we look ahead to 2025. Placer’s blog highlighted a +2.7% increase in Black Friday weekend visits compared to last year, with shoppers focusing on value while also seeking unique and differentiated products, evidenced by strong year-over-year trends at off-price retailers like HomeGoods, Marshalls, and T.J. Maxx. Pandemic-era categories like home furnishings and sporting goods may also be seeing signs of a resurgence.The standout takeaway, however, was the evolving role of malls. Mixed-use developments and placemaking, a key trend for malls heading into 2024, proved pivotal this Black Friday weekend. Open-air and indoor malls saw larger year-over-year visit increases (6.7% and 5.0%, respectively) than retailers across all property types (up 2.7%). This was a trend echoed by operators like Simon, further underscoring the mall’s continued relevance in modern retail.Retailers remain integral to malls, but seasonal attractions, entertainment options, and a more diverse tenant mix have transformed malls into community hubs and prime destinations for both residents and tourists. These attractions have a symbiotic effect, driving greater foot traffic to mall tenants compared to standalone stores of the same brands.Need evidence that this strategy works? Consumers are staying longer. Our data shows that open-air malls experienced a 7.2% increase in dwell time over Black Friday weekend, while indoor malls saw a 5.1% rise. As we've highlighted before, the longer consumers spend at a mall, the more likely they are to make a purchase.A strong box office undeniably played a role in Black Friday visit trends and dwell time. Our data shows a nearly 250% increase in visits to movie theaters this Black Friday compared to last year (below). However, the data also reveals that many malls with unique holiday attractions and effective marketing strategies experienced increased visits, indicating that mall traffic was driven by more than just blockbuster movies.Taken together, our data reinforces that malls have become more vital than ever to modern retail, evolving from traditional shopping hubs into multifaceted destinations that blend commerce, entertainment, and community experiences. Changes in tenant mix have introduced a diverse array of retailers, including digitally native brands, experiential stores, and unique local offerings, catering to broader consumer tastes. Increased visitor attractions, such as dine-in theaters, fitness studios, and immersive art installations, create compelling reasons that drive repeat visits for more than just shopping. Mall-focused events, from seasonal pop-ups to live performances, further enhance the draw by fostering engagement and creating a sense of occasion. This strategic evolution has positioned malls as essential anchors in the retail ecosystem, blending convenience and experience to meet the demands of today’s shoppers.

R.J. Hottovy
Dec 6, 2024