Consumer spending, Economy

Halloween shoppers expected to spend less on festivities, decor

240px-Jack-o'-Lantern_2003-10-31Data recently released by the National Retail Federation showed that approximately 158 million Americans will take part in Halloween festivities this year, a slight decrease from last year, and many will be looking to cut costs.

The average Halloween shopper is expected to spend $75.03 on décor, costumes, candy and activities — down from $79.82 last year. Overall, however, average Halloween spending has increased 54.7 percent since 2005, and total spending is expected to reach $6.9 billion this year.

“Still one of the most beloved and anticipated consumer holidays, Halloween will be far from a bust this year,” NRF President and CEO Matthew Shay said. “After a long summer, the arrival of fall will put millions of Americans in the spirit to partake in traditional and festive activities. Retailers recognize that when it comes to Halloween, consumers’ creativity abounds. We expect retailers to stock their shelves with unique costume ideas for adults, children and pets, a variety of candy options and never-seen-before home and yard decor.”

Costumes are among Americans’ Halloween favorites, with 43.6 percent of celebrants expected to spend a total of $2.6 billion to dress up this year. Consumers are expected to spend $1.04 billion on children’s costumes and $1.22 billion on adult costumes.

Another 13.8 percent of consumers are expected to spend $330 million to dress their pets in costume, while consumers will spend $2.08 billion on candy and $360 million on greeting cards. The holiday is second only to Christmas in terms of décor spending — American consumers plan to spend nearly $2 billion on decorations this year.

Nearly one-third of Americans look for costume ideas online, and another one-third look for ideas in-store. Approximately 21 percent of consumers will seek ideas from friends and family, while another 14.1 percent will search Facebook for inspiration.

Seventy-two percent of Americans plan to hand out candy this year, 44.2 percent plan to carve pumpkins, 20.3 percent plan to visit a haunted house and 31.7 percent plan to take their children trick-or-treating.

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