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Spending on Halloween Doesn’t Spook Americans
WASHINGTON -- A record 170 million people, or 71.5% of Americans, plan to celebrate Halloween this year. On average, each person will spent $79.82 on decorations, costumes and candy, up from $72.31 last year.
Total Halloween spending is expected to reach $8 billion, according to the National Retail Federation's 2012 Halloween consumer spending survey.
“By the time Halloween rolls around each year, it’s safe to say Americans have already spent two months preparing for one of the fastest-growing and most widely loved holidays of the year,” said Matthew Shay, NRF president and CEO.
When it comes to Halloween costume ideas, 35.7% of consumers say their biggest source of inspiration is what they see in a retail store or costume shop. Meanwhile, 23.7% will turn to their friends and family. Social media will play a role in choosing costumes as well: 15.2% will check out Facebook for inspiration and 7.1% will scour Pinterest. Online searches will also be popular with celebrants: 33.3% say they get their inspiration online. Of those buying or making costumes, the average person will spend $28.65 on costumes this year, up slightly from $26.52 in 2011.
Of those celebrating Halloween this year, 51.4% will decorate their homes or yards, up from 49.5% last year, and 45% plan to dress in a costume, also up from last year's 43.9%. Some 36.2% will throw or attend a party and 33.2% will take children trick-or-treating. In addition, 15.1% will ensure their furry friends are part of the fun by dressing their pets in costumes.
Despite record spending figures for this year’s Halloween holiday, though, 25.9% of U.S. consumers say the state of the economy will affect their plans. To compensate, most (83.5%) say they will spend less overall, while others (18%) will make a costume instead of buying one and 36.1% will buy less candy.
Published by The Business Journal, Youngstown, Ohio.