Halloween Scares up Big Sales
An increasing number of consumers are becoming bewitched with ghosts and goblins which is leading to greater spending. According to a new survey from the National Retail Federation and BIGresearch, consumers are spending much more on Halloween than they used to just five years ago.
The National Retail Federation’s 2007 Halloween Consumer Intentions and Actions Survey revealed that Americans now spend $5 billion on the holiday--up 58 percent since 2002.
Other findings include:
* The average consumer celebrating Halloween will spend $64.82 on Halloween, compared to $59.06 last year.
* 28.3 percent of those responding are planning to throw or attend a Halloween party.
Halloween continues as one of the biggest decorating holidays of the year, second only to Christmas.
* 66.7 percent of consumers plan to purchase Halloween decor and 47.8 percent plan to decorate their home or yard. Consumers will spend approximately $1.39 billion on decorations, an average of $26.59 for those planning purchases.
* $1.57 billion will be spent on candy, with 94.7 percent of consumers buying. The average consumer will spend $19.84, and 72.9 percent plan on handing out candy to trick-or-treaters and others.
* Consumers will spend $23.33 on average and 33.8 percent plan to dress in costume. Total spending on costumes, including those for children and pets, is expected to reach $1.82 billion.
* 7.4 million households plan to dress up their pets in costume.
* Greeting cards will be given by 33 percent of consumers, totaling $31 billion.
Because it is not a gift-giving or an apparel holiday, Halloween ranks lower than other annual holidays in terms of spending. Halloween remains the sixth-largest spending holiday after: Winter Holidays, Valentine's Day, Easter, Mother's Day, and Father's Day. Don't get spooked by these findings. Put a strategy in place now to capture this growing audience next year and scare up even bigger sales.




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