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Americans are planning to spend on average $79.82 on costumes, decorations, and candy. That's up from $72.31 last year, and $66.28 the year prior.
If the pirates look more menacing, the porch decorations more extravagant, and the sexy costumes for poodles a little sexier, your eyes aren't playing tricks on you. Consumer spending this Halloween is set to reach $8 billion, a 10-year record high, according to a new survey released by the National Retail Federation (NRF).
Americans are creaking open their wallets a little more this year, saying they're planning on spending on average $79.82 on costumes, decorations, and candy. That's up from $72.31 last year, and $66.28 the year prior. More will be joining in the trick or treating and Halloween party-going and throwing, too, with participation up to 71.5 percent from 68.6 percent last year.
Driving the trend: Adults. That's right, Halloween isn't just for kids any more. The greatest increase in costume spending comes from adults on their own costumes, up $200 million, while family spending on costumes for kids is only up $100 million.
Dropping more in a down economy might sound foolhardy, but Halloween is one holiday where you can get more boo for your buck. Individuals on average spend an average of over $100 on both Valentine's and Easter, and over $150 on Mother's Day. The key events of those holidays might last for just a few hours, while the fun of Halloween can go all day and night. Then there's the buildup and preparation, the post-Halloween night story-sharing, and those visits to the trick or treat bag, which, depending on your discipline, can go for weeks (or days, or hours...)
Ultimately it's as simple as the pleasure in pretending to be someone - or something - else for an evening. “Halloween for consumers has really become a form of escapism,” Pam Goodfellow, Consumer Insights Director for BigInsight, told NBC News. “We're forgetting about the economy for the night.”
Goodfellow, whose firm conducted the research for the NRF, said that Americans have gotten their finances in shape in the past few years and are deploying their dollars more strategically. “We're waiting for these targeted times to relax a little,” she said.
However, it's not all candied apples. One quarter of those surveyed said the economy will make them spend less. 18 percent plan on making a costume instead of buying and 36.1 percent will buy less candy.
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The main reason for that is that thrift stores like Unique and Goodwill have an expanded Halloween section, and most people only shop at thrift stores anymore.
I hope they are not counting on my spending. We bought some on clearance last year. I doubt I will buy anything to add this year. It just isn't a very significant Holiday.
I think everyone is extremely excited because the summer was so long and drawn out. The people I know are ready for Fall and all its festivities to include Halloween. I already had a dream that I was going to be a princess and I haven't wanted to wear a costume in at least a decade. I know myself, my family and my friends are very excited about Halloween. #GOHALLOWEEN!!! :D
Darth Vader and Stormtroopers are the way to go :)
It's all about the candy revenues now, and not where/when it originally started.
The question that should be asked is, did the consumer WANT to spend more? Or was it because the decorations are just a little bit higher, the candy a little more expensive, etc.?
There are really very few "Adults" in modern day America. most are spoiled little brats in an adults body. I don't see much positive comparison with today's 25 to 40 year olds to those of my parents back in the '50's and early '60's.
Sorry to disappoint you Dad. We promise to do better.
oooooohhhhhh.
Stupid holiday and an incredible waste of money!!!!
Good to know I'm supposed to go out & buy more candy this year. I'm assuming Ben Popken (the author) actually works for Hershey's.....
lol what?
The price of pumpkins this year is outrageous. I will likely only have one jack-o-lantern this year.
I will try to up the number of hand made decorations this year.
I decorate my house and yard to be spooky but not really scary. I want the little kids to have fun looking at everything. I have many Halloween coloring pages that I have colored with fluorescent and glow in the dark paints that I hand under a black light. Lot's of spider web and other things to look at but I don't jump out at the kids. I want today's kids to experience some of the wonder that I had back when I was a kid in the 1960s. Before everything turned into slash and gore.
I'm thinking of adding things like stickers or temporary tattoos to give the kids and hand out less candy. Candy prices have gotten crazy. And I hate the teenagers that show up with a Walmart bag and aren't even wearing a costume. I don't give them much. And I give the neighborhood kids more than I give the kids of the parents that drive them to each street that they see decorated.
Critical times hard to deal with, will be here.
I'm trying to purchase a house so no Halloween spending for me for the most part. Maybe a pumpkin or two and some decorations but that's about it.