Halloween spending to reach US $ 8.4 billion mark: NRF

Sep 26, 2016

Total spending this Halloween is expected to reach US $ 8.4 billion this year, as per the results of an annual survey conducted on 6,791 consumers by Prosper Insights & Analytics for National Retail Federation, world’s largest retail trade association. The spending estimated is an all-time high in the survey’s history.

The US consumers are expected to spend an average of US $ 82.93 as against last year’s US $ 74.34, with more than 171 million Americans planning to participate in Halloween festivities this year.

“After a long summer, families are excited to welcome the fall season celebrating Halloween. Retailers are preparing for the day by offering a wide variety of options in costumes, decorations and candy, while being aggressive with their promotions to capture the most out of this shopping event,” mentioned Matthew Shay, President and CEO – NRF.

The survey pointed out that 67 per cent of Halloween shoppers plan to spend US $ 3.1 billion on costumes (clothing), along with US $ 2.5 billion on candy (94.3 per cent), US $ 2.4 billion on decorations (70 per cent) and US $ 390 million on greeting cards (35.4 per cent).

Out of many options of celebrating Halloween, 71 per cent of consumers plan to hand out candy, 49 per cent will decorate their home or yard, 47 per cent will dress in costume, 46 per cent plan to carve a pumpkin, while 34 per cent people will throw or attend a party and 30 per cent plans to take their children trick-or-treating. Apart from these, 21 per cent want to visit a haunted house or dress their pet(s) in costume (16 per cent).

The survey emphasized that eight in 10 Americans will shop by mid-October and will take advantage of early-bird promotions both online and in-store as they kick off the fall season. 35 per cent customers will shop online for perfect Halloween costume while 29 per cent will go for in-store.

NRF represents discount and department stores, home goods and specialty stores, main street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries.

Source: APPAREL RESOURCES