Spending Down Slightly for Halloween [AUDIO]
Halloween spending is down this year, according to a National Retail Federation (NRF) survey.
The report says that the average consumer will spend $75.03 on costumes, decor and candy, down from $79.82 last year.
“Still one of the most beloved and anticipated consumer holidays, Halloween will be far from a bust this year,” said Matthew Shay, president and CEO of NRF.
But why are people spending less?
“It could partly be because (Halloween) falls on a weekday, but it could also be related to the fact that in general consumers are watching their budgets a little bit more closely right now,” said Kathy Grannis, a spokesperson with NRF.
Consumers plan to spend $2.08 billion on candy, $360 million on greeting cards and $1.96 billion on decorations. Halloween costumes will get the most chunk of change with consumers shelling out $2.6 billion.
“Four in 10 will dress in costume, and believe ir or not, 14 percent said they will even dress their pet in costume,” said Grannis.
The most popular adult costume is a witch or Batman. Vampires came in as the third most popular adult costume. Among children, princesses and animals top the list. What about for pets? It’s a pumpkin. Vampires came in as the third most popular adult costume.
Overall, average spending on Halloween has increased 54.7 percent since 2005, with total spending estimated to reach $6.9 billion in 2013.