How much can purchases of candy, costumes and decorations add up to? Well, it seems a lot more than I had ever imagined. It also seems that with the status of the economy, people are planning on blowing off a little steam and will be spending more this year than previously.
Downturn or no, the National Retail Federation reported that more consumers plan to celebrate the haunted holiday -- and, on average, plan to spend more for it than last year. Overall, Halloween sales are expected to rise 14% to $5.77 billion, while holiday sales are predicted to grow by only 2.2%. In a macabre kind of twist given the gloomy economy, it seems shoppers are happy to spend on Halloween even as the industry predicts a dire Christmas season.
About 65% of consumers plan to celebrate Halloween, compared to 59% last year, according to NRF's annual Halloween Consumer Intentions and Actions Survey, conducted by BIGresearch. The average consumer will spend $66.54, up from $64.82 last year. Those aged 18-24 will spend the most on Halloween, at $86.59 per person.
"After months of bleak economic news, consumers are looking for a reason to let loose," said Phil Rist, VP-strategy for BIGresearch. "And with Halloween on a Friday this year, consumers may plan to celebrate all weekend long."
Halloween Spending Estimates 2008
Category Spending per person Spending total
Costumes $24.17 $2.1 billion
Candy $20.39 $1.77 billion
Decorations $18.25 $1.58 billion
Greeting Cards $ 3.73 $320 million
Source: National Retail Federation
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