Halloween To Rake In $7 Billion At Retail
From the archive: published Oct 31, 2011, 15 years ago. Details may have changed since.
Halloween is expected to get U.S. store tills ringing more than ever this year, even if the economy is a horror show.
The National Retail Federation (NRF) estimates almost $7 billion will be spent on Halloween in 2011, up from $5.8 billion last year. That’s also a huge leap from 2005’s $3.3 billion, before the current economic crisis took hold.
In its press release, the NRF even provides a breakdown of how money will be spent, with candy and decorations bringing in the biggest chunk:
Candy: $2 billion Decorations: $1.88 billion Adult costumes: $1.21 billion Children’s costumes: $1 billion Greeting cards: $470 million Pet costumes: $310 million
The average American household will reportedly spend $72 on the holiday (up from $66 last year). Doug Johnson, Madison-based national and state retail analyst, thinks Halloween’s popularity is easily explained:
“Halloween has become more popular because of the relative low costs and the escape from daily worries and a chance to be a kid again.”
Halloween still lies fourth in annual spending on ‘retail events’ in the U.S. Inevitably, Christmas comes top, with people spending a cool $400 billion on making their Christmas magical (that’s $4,100 per household!). Halloween also trails back-to-school and Thanksgiving, but Johnson acknowledges Halloween is “sneaking in.” He also states that Halloween expenditure is normally a reliable indicator of what people will spend at Christmas:
“This is not only good for state and local and national retailers for sales now, it’s a harbinger for what we are hoping are even stronger sales for the holidays.”
Christmas last year saw the average person spend $700, while Mother’s Day came in second, with individual spending just short of $130.