Fall isn’t just the season of colored leaves and pumpkin spice; it’s a season when Halloween dominates. Consumers spend billions each year on Halloween, from candy to costumes to decorations.
This year, however, things are looking different. Many Halloween plans will be canceled due to the coronavirus pandemic, and many consumers will limit their purchases due to financial constraints. All told, the National Retail Foundation anticipates an $8 billion drop in spending, which means retailers who pay to open seasonal pop-up stores may not get their money’s worth.
In fact, Party City (NYSE: PRTY) has reduced the number of its Halloween pop-up stores by 91% given the circumstances at hand. The retailer is opening 25 pop-ups, compared to the 275 locations it normally operates this time of year. And that’s undoubtedly been hard on commercial landlords nationwide.
Losing pop-up tenants is a huge blow
Property owners and landlords rely on