Halloween spending expected to be high this year

Retailers expect consumers to spend more to celebrate Halloween this year.

Photo Courtesy: MGNonline

NEW YORK (CNN) – Now that fall has officially arrived, retailers and shoppers are turning their attention to Halloween. Will consumers be willing to splurge on costumes and candy?

New numbers from the National Retail Federation show most consumers won’t be afraid to spend on Halloween this year.

According to their annual survey, spending on the spooky holiday will reach 7.4 billion dollars, 77 dollars and 52 cents on average, an increase of 3.3 percent over last year.

The bulk of the spending, on costumes, about 2.8 billion dollars.

2.2 billion, on Halloween candy, 2 billion on decorations, and another 350 million on costumes for pets.

If you feel like it’s too soon for candy and costumes, you’re probably not among the one-third of shoppers who said they’ll make Halloween purchases early, before October first.

The retailers’ Halloween survey found that the state of the U.S. economy is still on the minds of many consumers. One-in-five said it will impact their spending plans this fall.

Halloween is the last major retail event before the big holiday rush, and can offer retailers clues on how willing Americans will be to open their wallets, and how stores should approach holiday inventory, discounts and deals.

Comments are closed.