The National Retail Federation has predicted that $5.7 billion will be spent at retail on Halloween this year, more than 20 percent higher than was spent a year ago. That will translate to $66.54 per person.
According to a report by the Reuters News Agency, spending on costumes, masks, party goods, greeting cards, trick-or-treat candy and home decorations will rise despite plummeting global stock markets, slumping house prices and rising jobless figures.
“I think people are still going to be spending on Halloween,” Jason Alderman, director of financial education at Visa Inc., told Reuters. “It is one of those holidays that people derive a lot of pleasure for a relatively little amount of money. In these challenging times when a lot of people are worried and a pall is cast over a lot of families. This is a relatively inexpensive way to try to forget those troubles.”
The NRF predictions are based on its September poll by BIGresearch of 8167 consumers. “The bottom line when it comes to Halloween, in general, it is a relatively cheap and inexpensive holiday and consumers are ready to focus on fun and forget about what is going on,” said NRF spokesperson Kathy Grannis.
NRF's poll shows more than 70 percent of Americans will hand out treats, nearly 50 percent will carve a pumpkin, 35 percent will dress up and a third will have a party or attend a party and 33 percent will take children trick-or-treating.