Halloween spending is fluctuating again, and recent surveys indicate that it may decrease slightly this year. The National Retail Federation predicts that average spending could go down by $4.79 to reach $75.03. In addition, it believes the total number of people who plan to celebrate Halloween will also decrease.
Consumer spending statistics reveal that Halloween spending often fluctuates. The current economy has a large impact on how many people plan to celebrate this holiday. However, there are indications that not everyone is giving up. Search trends point to the increase in the number of people searching for Halloween costumes. The data reveals that interest in dressing up for the holiday is not disappearing despite lower spending.
WWLP-22News interviewed several families to determine if they were reducing their Halloween spending as the survey suggested. One family explains it will still purchase pumpkins and celebrate the holiday together. A second family mentions it is spending more on costumes this year by making them because trips to the fabric store are starting to add up.
The National Retail Federation states that 158 million people in the United States will celebrate Halloween. Although this is a decrease compared to the 170 million people who celebrated last year, retailers may not notice an enormous difference. Early predications indicate that $2.08 billion will be spent on candy while $2.6 billion will be spent on costumes. Decorations may cost close to another $2 billion.
Survey results mention that the economy is playing a part in how much people are willing to spend during the holiday. It is encouraging them to spend less and participate less. However, retailers are still bracing for brisk sales. The billions spent by Americans for Halloween are impossible to ignore.
Despite the predictions, families and individuals are showing their resourcefulness this year. Many plan to make their own costumes and decorations to save money. The popularity of Pinterest has not escaped the recent survey, and people are planning to scour the website for new ideas. Some DIY mavens have been working feverishly with fabric samples, ribbons and glitter for Halloween as they put together their creations. Even pets are getting costumes, and this trend is not going away. Instead, pet costume spending has increased for the last several years.
In general, costumes tend to be on the list of the highest costs for Halloween. Candy is also on the list since most families are not content with simply buying enough to hand out to trick-or-treaters. The combination tends to be higher than decorating costs.
Although spending is decreasing this year, Halloween is still considered to be one of the holidays with the highest rates of participation in the United States. Since gifts are not required, more people on a budget tend to celebrate. Purchasing candy and some decorations is still cheaper than getting gifts for every person on a Christmas list. Retailers will be watching the participation numbers closely. However, none of them have expressed concern at this time. Halloween is still popular and not going away.
