Looking for that billion dollar business idea? Well, I have one for you that was just under a billion in 2022, but might reach that height this year, considering its 20% year-over-year growth since 2019.

The billion dollar idea is pet Halloween costumes!

When doing research for my new 2023 Etsy Holiday Sales Planner, I found that, according to the National Retail Federation, Americans spent $710 million on Halloween costumes for their pets in 2022!

And, there is not as much competition as you think. There are only 3,000 listings for dog Halloween costumes on Amazon, and only 12,900 listings on Etsy. So there’s lots of opportunity!

Currently, 69 million US households own a dog and 45 million US households own a cat. Since the NRF also found that 1 in 5 pet owners plans to buy a Halloween costume this year, that’s 22.8 million costumes to be sold!NEW BUSINESS STARTUP CHECKLIST

Dogs costumes are three times more popular than costumes for cats. The most popular costumes for pets include a pumpkin, hot dog, bat, bumblebee, witch, lion, spider, ghost, super dog and devil. Consumers start searching July 31st and searches peak October 23rd.

My 2023 Etsy Holiday Sales Planner is  available now.

You might also want to read: 54 Small Business Ideas for 2023.

©2023 Gail Oliver. All rights reserved. Billion Dollar Business Idea