Not so frightening: Halloween spending to reach $9 billion
Americans are again anticipating Halloween by splurging on their favorite candy, costumes and decorations. According to the annual survey from the Washington-based National Retail Federation (NRF), conducted by Prosper Insights & Analytics, total Halloween spending is expected to reach $9 billion, the second-highest amount in the survey’s 14-year history. The figure is “relatively the same as last year’s previous record of $9.1 billion,” the NRF said in an article about the report.
More than 175 million Americans plan to partake in Halloween festivities this year, noted the report, which was conducted in September. Celebrants expect to spend $3.2 billion on costumes (purchased by 68 percent of Halloween shoppers), $2.7 billion on decorations (74 percent), $2.6 billion on candy (95 percent) and $400 million on greeting cards (35 percent).
“Retailers are stocking up to supply children, pets and adults with their favorite decorations, candy and costumes for the season," said Matthew Shay, president and CEO of the NRF. Some stores have their own private Halloween brands, such as Minneapolis-based Target with its Hyde & Eek!, and Cincinnati-based The Kroger Co., which sells various fall and Halloween supplies, kits and decorations under its Holiday Home label.
Pet costumes are gaining popularity as one of the biggest trends this year, said Prosper Insights Executive Vice President of Strategy Phil Rist, with 31.3 million Americans planning costumes for their pets.
“The economy is good and consumer confidence is high, so families are ready to spend on Halloween this year,” Shay said.