Consumers are ready for a "spooktacular" Halloween, and their spending habits will show it, as more buyers are expected to dress up, decorate and celebrate the ghoulish holiday.
According to a survey by the National Retail Federation, about 69 percent of shoppers plan to celebrate Halloween, a 5-percent increase compared to last year. Shoppers are expected to spend an average of $72.31 on decorations, costumes, candy and other festive items, a slight increase from last year's $66.28 total. In all, shoppers will spend $6.9 billion on Halloween.
"Many retailers have already stocked their shelves with Halloween merchandise and, given the popularity of the holiday this year, consumers should not hesitate when they find something that would make their celebration complete," notes Matthew Shay, president and CEO of the NRF.
Buyers will spend an average of $26.52 on costumes, with adult-costume sales expected to total $1.21 billion compared to last year's $990 million total. Spending on children's costumes will reach $1 billion, up from $840 million last year, according to the NRF.
But shoppers won't just be buying costumes and candy for trick-or-treaters. An estimated 50 percent will also spend on decorations for their homes and yards, with life-size skeletons, inflatable pumpkins and fake cobwebs expected to be among the top decoration choices. About 34 percent of shoppers will attend a party, and 15 percent will spend on costumes to make their furry friends look frightful, the NRF reports.
"Thanks to creative costumes and décor for consumers of all ages, Halloween has become one of the most anticipated holidays of the year for many people," says Pam Goodfellow, consumer insights director for BIGresearch. "As a non-gift holiday, even people on the strictest budgets can enjoy themselves this Halloween."
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Auctiva staff writers constantly monitor trends and best practices of those selling on eBay and elsewhere online. They attend relevant training seminars and trade shows and regularly discuss the market with PowerSellers and other market experts.