It will be a “frightening” Halloween this year for retailers! Why? It is predicted that consumers are planning to spend up to $6.9 billion on Halloween, which is down by 7% from last year. Economy might be the one to blame, said over 80% of the shoppers surveyed.
Consumers are planning on only spend an average of $74 for Halloween, taking into the considerations that certain people are big Halloween fun and are willing to spend considerate amount of money on decorations and costumes, while others will only go to a friend’s party without any costumes (Yeah, we all have that friend)!
68% will hand out candy,
43% will dress in costume,
45% will decorate their homes,
and 33% will attend a party!
Below are some fun facts about Halloween:
1. 157 millions Americans will celebrate Halloween with adults spend 950 million to $1.2 billion on costumes
2. Princesses & Action Heroes top the kids’ costume list
3. You can save money by buying costumes at Goodwill or go to Pinterest for inspiration for homemade costume ideas
4. Halloween is the #6 consumer spending holiday
So what are you going to do this Halloween and how much is your budget?