Halloween spending slated to hit record $9.1 billion, NRF says
- Consumers are expected to spend an average of $86.13 each for Halloween.
- Shoppers plan to spend the most, or $3.4 billion in total, on costumes this year.
- In search of Halloween-related goods, 47 percent of shoppers surveyed told the National Retail Federation they will visit discount stores, while 38 percent said they will go to a specialty shop.
Halloween spending should hit a record this year.
Total amount spent around the spooky season is forecast to reach a new high of $9.1 billion, with 179 million Americans planning to partake in Halloween festivities, up from 171 million in 2016, according to the National Retail Federation.
In 2016, total spending hit $8.4 billion, another record at the time.
Consumers are expected to spend an average of $86.1 each for Halloween, compared with last year's $82.93.
And shoppers plan to spend the most, or $3.4 billion, on costumes; $2.7 billion on candy; about $2.7 billion on decorations; and $410 million on Halloween-related greeting cards, NRF said.
In search of Halloween-related goods, 47 percent of shoppers told NRF they will visit discount stores, while 38 percent said they will go to a specialty shop. Twenty-five percent of shoppers surveyed said they will visit supermarkets, 24 percent plan to go to department stores, and 22 percent are looking online for deals.
"Halloween continues to be a highly anticipated holiday for Americans, who will spend a record amount this year with increases across all purchasing categories," said Pam Goodfellow, an analyst with Prosper Insights.
"Expect consumers to be on the lookout for early-bird promotions both online and in-store as they hunt for the best items to complete their costumes and embellish their homes," she added.
NRF, in a partnership with Prosper Insights, surveyed 7,013 consumers about their Halloween shopping plans.
The survey also found that a record number of adults, or 48 percent, plan to dress in a costume this year. Witches, Batman characters and animals were some of the most popular choices. The top costume for children is expected to be a superhero, and for pets, a pumpkin or a hot dog.
Record spending expected around Halloween and ahead of the holidays could bode well this year for retailers, which are hoping to bounce back from a slow start.
Looking to grab a share of shoppers' dollars, Amazon has already rolled out its own Halloween Shop on its website.