Halloween Spending To Reach Record High In 2017
Americans love Halloween, with the National Retail Federation (NRF) reporting that they will spend a record $9.1 billion on costumes, candy, pumpkins and more for the holiday this year. The NRF’s annual survey forecasts an 8.3 percent increase in spending over 2016’s previous record of $8.4 billion.
The NRF expects consumers to spend, on average, $86.13, up from last year’s $82.93, and that 179 million Americans are expected to take part in Halloween festivities, up from 171 million in 2016. Only 12.9 percent say their spending will be affected by the economy, down from 14.1 percent last year and a peak of 32.1 percent in 2011.
According to the survey, consumers plan to spend $3.4 billion on costumes (purchased by 69 percent of Halloween shoppers), $2.7 billion on candy (95 percent), $2.7 billion on decorations (72 percent) and $410 million on greeting cards (37 percent). The NRF also expects consumers to spend $440 million this year on costumes for their pets.
Discount stores will be the most popular destination for consumers’ holiday shopping (47 percent), while 38 percent will go to a specialty Halloween store or costume store. In addition, 25 percent will visit supermarkets, 24 percent will buy at department stores and 22 percent will shop online.
For more on the NRF’s Halloween findings, click here.