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ABOUT THIS BLOG
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This blog will look at the winners and losers in the retail space. Who has the right strategy to capture consumer dollars? It also will look for trends in consumer spending and how that will impact the economy.
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Tired of being spooked by the economy? Well, you’re not alone and that could be good news for retailers.
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"Though the economy is struggling, Halloween sales may be a bright spot for retailers this fall," said Tracy Mullin, president and CEO of the National Retail Federation. "Consumers—who have been anxious and uncertain for the past several months—may be looking at Halloween as an opportunity to forget the stresses of daily life and just have a little fun."
The group is estimating total Halloween spending could reach $5.77 billion this year, with the average person planning to spend about $67 on the holiday, up from nearly $65 a year ago.
The trend isn’t uncommon. In 2002, retailers saw strong spending on Halloween as consumers looked to let loose.
"It's become a celebratory event for adults," said George Whalin, of Retail Management Consultants. "It's become much less about the children."
And the timing of Halloween on Friday may encourage celebrating - and spending - even more.
This boost couldn’t come at a better time. Chain-store sales in September were pretty grim, with retailers seeing just a 0.8 percent increase in same-store sales, according to Thomson Reuters. Excluding Wal-Mart [WMT
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] sales fell, 0.9 percent.
But don't see this boost in spending as a positive sign for the holiday season.
"I don't think it's a good indicator," Whalin said.
What does it cost to scare up a little fun?
BIGResearch estimates consumers will spend an average $24.17 on Halloween costumes, $20.39 on candy, $18.25 on decorations and $3.73 on greeting cards.
Questions? Comments?
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Data is a real-time snapshot *Data is delayed at least 15 minutes