Halloween party

Halloween Spending to Reach $9 Billion; 25% to Shop at Dept Stores

In Reports, What's New, Industry News by Lauren Parker, Accessories Magazine

Halloween party

© VadimGuzhva. Adobe

Halloween… it isn’t just for kids anymore!

According to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics, total spending for Halloween 2018 (candy, costumes and decorations) is protected at $9 billion. This is the second highest in the survey’s 14-year history. The figure is relatively the same as last year’s previous record of $9.1 billion.

More than 175 million Americans plan to partake in Halloween festivities this year. Average spend will be $86.79. In 2017 it was $86.13.

“The economy is good and consumer confidence is high, so families are ready to spend on Halloween this year,” NRF President and CEO Matthew Shay said. “Retailers are stocking up to supply children, pets and adults with their favorite decorations, candy and costumes for the season.”

RETAIL OPPORTUNITIES

And retailers don’t need to be Halloween stores per se to reap the rewards of this growing holiday. A look at what’s trending will give some tips on last-minute items to stock.
According to the survey, consumers plan to spend $3.2 billion on costumes (purchased by 68% of Halloween shoppers), $2.7 billion on decorations (74%), $2.6 billion on candy (95%) and $400 million on greeting cards (35%).
Halloween Spending

Betsey Johnson Glampire Crossbody. Photo: Macy’s

Among Halloween celebrants, 70% plan to hand out candy, 50% will decorate their home or yard and 48% will wear costumes. What’s more, 45% will carve a pumpkin, 32% will throw or attend a party, 30% will take their children trick-or-treating, 21% will visit a haunted house and 18% will dress pets in costumes.

Pet costumes continue to gain popularity. While 16% of celebrants dressed their pets in costumes last year, nearly 20% plan to this year.

“One of the biggest trends this year is the growth of spending on pet costumes,” Prosper Insights Executive Vice President of Strategy Phil Rist said. “Out of the 31.3 million Americans planning to dress their pets in costumes, millennials (25-34) are most likely to dress up their pets, the highest we have seen in the history of our surveys.”

And where will consumers seek and shop? Thirty-five percent will look online, 29% will look in stores, 19% will ask friends and family, 19% will look to Pinterest and 16% will look to Facebook. In addition, 16% will be influenced by pop culture and 15% by YouTube.

For buying costumes and other Halloween supplies, 45% of shoppers will visit discount stores and 35% will go to a specialty Halloween store or costume store. In addition, 25% will visit department stores, 24% will buy online and 24% in grocery/supermarket stores.

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