There’s nothing scary about Halloween sales this year. Consumers coming out of the recession, and with a full weekend to celebrate (Halloween is on a Sunday this year), are expected to spend $5.8 billion on costumes, candy, and decorations this year—more than last year’s $4.75 billion.
“We expect consumer spending for Halloween to be higher compared to last year, and have already seen a recent uptick in sales,” says Jeff Wisot, vice-president of marketing for Buy.com. “We believe this growth is due, in part, to more and more adults wanting to dress up to celebrate versus costumes being mostly for the kids.”
According to the National Retail Federation’s (NRF) 2010 Halloween Consumer Intentions and Actions Survey, conducted by BIGresearch, the average American will spend $66.28 on costumes, candy, and decorations. Costumes take up the largest portion of a person’s budget ($23.37), but Halloween isn’t complete without the candy. According to the NRF research, Americans will spend an average of $20.29 on candy, with spending on decorations at $18.66 and greeting cards at $3.95.
However, cutting costs is still on consumers’ minds. The NRF data shows that three out of 10 consumers say that the state of the U.S. economy will still impact their Halloween plans. “Though Halloween spending will be much more robust than a year ago, consumers will still err on the side of caution,” said Phil Rist, executive vice-president, strategic initiatives, BIGresearch, in a statement. “Americans are excited about Halloween but are still being frugal and pinching their pennies where they can.”