Executive Briefings

Economy Is the Goblin Scaring Consumers this Halloween

One of the spookiest parts of Halloween this year may be the amount people plan to spend on their celebrations. 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 $4.75bn.

Nearly one in three (29.6 percent) consumers say the state of the U.S. economy will impact their Halloween spending plans. Of those who will be affected, the largest majority (88.0 percent) plan to spend less overall. Others say they will be buying less candy (46.5 percent), using last year's decorations without buying new ones (35.4 percent), making costumes instead of purchasing them (16.8 percent), reusing last year's costumes (15.8 percent), and not participating in as many Halloween activities such as haunted houses or fall festivals (26.4 percent).

"The economy has caught up to Halloween this year," said 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." 

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One of the spookiest parts of Halloween this year may be the amount people plan to spend on their celebrations. 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 $4.75bn.

Nearly one in three (29.6 percent) consumers say the state of the U.S. economy will impact their Halloween spending plans. Of those who will be affected, the largest majority (88.0 percent) plan to spend less overall. Others say they will be buying less candy (46.5 percent), using last year's decorations without buying new ones (35.4 percent), making costumes instead of purchasing them (16.8 percent), reusing last year's costumes (15.8 percent), and not participating in as many Halloween activities such as haunted houses or fall festivals (26.4 percent).

"The economy has caught up to Halloween this year," said 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." 

Read Full Article