Despite Economic Woes, Halloween Spending Expected to Rise
Although Americans have curtailed spending in many areas as a result of the slumping economy, a recent survey suggests Halloween won’t be one of them. According to the National Retail Federation’s Halloween Consumer Intentions and Actions Survey, conducted by BIGresearch, the average consumer plans to spend $66.54 on the holiday, up from last year’s $64.82. The recent survey polled 8,167 consumers. Here are more of the survey’s findings:
* 64.5 percent of consumers surveyed said they plan to celebrate the holiday this year vs. 58.7 percent last year;
* total Halloween spending for 2008 is expected to reach $5.77 billion;
* respondents plan to spend an average of $24.17 on Halloween costumes (including costumes for adults, children and pets), $20.39 on candy, $18.25 on decorations and $3.73 on greeting cards;
* 18- to 24-year-olds plan to spend $86.59 on the holiday, the most of any age group surveyed; and
* 73.7 percent of respondents said handing out candy is how they’ll celebrate the holiday, followed by decorating (50.3 percent), carving a pumpkin (44.6 percent), dressing in a costume (35.3 percent), taking children trick-or-treating (33.6 percent), and throwing or attending a party (31.1 percent).
For more information, go to www.nrf.com.