According to the National Retail Federation’s 2009 Halloween Consumer Intentions and Actions Survey, conducted by BIGresearch, consumers are expected to spend an average of $56.31 on Halloween, down from $66.54 last year. Total spending on the holiday is expected to reach $4.75 billion.
Nearly one in three consumers say the state of the U.S. economy will impact their Halloween spending plans. Of those who will be affected, 88 percent plan to spend less overall. Others say they will be buying less candy (46.5%), using last year’s decorations without buying new ones (35.4%), making costumes instead of purchasing them (16.8%), reusing last year’s costumes (15.8%), and not participating in as many Halloween activities such as haunted houses or fall festivals (26.4%).**
“The economy has caught up to Halloween this year,” says Tracy Mullin, president and ceo, National Retail Federation. “Since retailers know that Americans will be looking to celebrate on a budget, there’s no doubt we will see creative costume and decorating ideas in every price point imaginable.”
Looking at consumer demographics, the study found young adults, who were last year’s big spenders for Halloween, plan to spend $68.56 on the holiday, compared to $86.59 last year and $81.91 in 2007. “With part-time jobs more scarce and parents unable to help out financially, many young adults have been impacted substantially by the economy,” says Phil Rist, executive vp, strategic initiatives, BIGresearch.
Among the items consumers typically purchase this time of year, respondents plan to spend an average of $20.75 on costumes, which includes children’s and pets’ costumes; $17.99 on candy; $14.54 on decorations and $3.02 on greeting cards.