Seasonal Businesses
What is the name of the Canadian pop-up retailer famous for selling Halloween costumes and decorations in temporary stores?
Spirit Halloween
Which candy brand is famous for its colorful, button-shaped chocolates?
M&M's
A Halloween store earns money by selling costumes, candy, and spooky decorations. What is the money it receives from these sales called?
Revenue
A store wants to attract customers preparing for Halloween. Name one product it could sell specifically for the holiday.
Costumes, candy, decorations, or pumpkins.
What is the name of the business that sells chocolate and other candy under brands such as Reese's and Hershey's? (Don't think too hard about it)
The Hershey Company.
Why might a Halloween store rent a temporary location instead of keeping the location open all year?
To reduce/lower year-round rent and operating costs when demand is low or nonexistent.
A candy store sells out of its Halloween chocolate weeks before October 31. What business mistake might it have made?
It underestimated the demand and ordered too little inventory.
A Halloween shop buys a vampire costume for $25 and sells it for $60. Before other expenses, how much money does the store make on the sale?
$35
Two Halloween stores sell similar costumes and both want to attract the same customers. What is it called when businesses try to win the same customers?
Competition
What is the term for the time of year when customers buy the most of a particular product?
Peak season
What business strategy involves hiring extra workers during busy periods and fewer workers during quiet periods?
Seasonal staffing
A candy company creates sour, spooky-shaped candy and advertises it to young children. What business concept is it using?
Target marketing: designing and promoting a product for a specific group of customers.
After Halloween, a costume store subtracts the cost of its inventory, rent, and wages from its sales revenue. What is the money left over called?
Profit
A candy company introduces smaller, individually wrapped chocolate bars just before Halloween. Why might this help the company sell more products?
The packages are convenient for trick-or-treating and meet seasonal customer demand.
What kind of business sells products from other companies and makes money by selling them to customers?
A retailer
What is one major risk of a business that earns most of its revenue during one month of the year?
It may struggle to cover expenses during the rest of the year.
Two candy companies sell similar chocolate bars for the same price. One introduces Halloween wrappers featuring popular characters. How could this help the company compete?
It differentiates the product from its competitors and creates a new way to stand out and attract customers.
A Halloween attraction earns $10,000 from ticket sales but spends $7,000 on decorations, staff, and other expenses. What is its profit?
$3,000
A small Halloween costume shop cannot match a large chain's low prices. What is one other way it could stand out and attract customers?
Offer handmade or unique costumes, personalized service, exclusive products, or better quality.
Why might a pumpkin farm charge more for the actual pumpkin-picking experience than for a regular pumpkin?
It provides an additional experience or service that customers may value.
A Halloween store orders 10,000 costumes, but a popular costume trend suddenly disappears. What business problem could this create?
Excess inventory, unsold stock, and potential financial losses.
Which company makes KitKat chocolate bars in Canada specifically?
In Canada, KitKat chocolate bars are made by Nestlé
A Halloween store buys 100 spooky masks for $10 each. It sells 80 masks for $20 each, and the remaining masks are unsold. Ignoring all other expenses, what is its profit or loss?
$600 profit. It earns $1,600 in revenue and spends $1,000 on the masks, leaving $600.
Before Halloween, a decoration company discovers that customers want affordable decorations they can reuse every year. What should the company conduct to understand customer needs before deciding which products to develop?
Market research
If Halloween sales are unexpectedly low, name at least two actions a business could take to reduce its losses.
Discount remaining inventory, reduce future orders, cut unnecessary costs, or sell suitable products after Halloween.