The scariest thing about this Halloween may be how much we’ll spend celebrating. The average American will fork out nearly $65 this year on Halloween accoutrements, such as candy, costumes (including pet costumes), cards, and decorations. That’s up from $44.20 in 2001; an impressive 46% increase in just five years. So if you’ve got the nagging suspicion that Halloween is becoming a bigger deal, it is! Collectively we’ll spend more than $5 billion to say Boo! in 2007, estimates the National Retail Federation’s Halloween Consumer Intentions and Actions Survey.
Families with kids, a yard to spookify, and pounds of candy to distribute are looking at a tab of several hundred dollars. The beneficiaries of the Halloween buying frenzy are, of course, retailers, including party goods chains, mass merchants like Wal-Mart and Target, supermarkets, chain drugstores, crafts shops, and thrift and dollar stores such as Good Will and Savers, which deal in second-hand clothing. Indeed, it’s hard to think of a retailer that doesn’t get a boost from Halloween sales. Pizza delivery and video rental chains do brisk business too, I’ll bet.
With about $1.4 billion budgeted for decorations this year, Halloween ranks as the second-largest decorating holiday behind Christmas/Hanukkah. For party chains, including market leader Party City and rival Party America, October 31st has eclipsed December 25th as the busiest time of the year. To capitalize on the Halloween spending spree some have taken to opening temporary stores just for the occasion. Internet retailers are feeling the love as well. Online costumer seller Buyseasons gets about 75% of its revenue in September and October due to the Halloween holiday.
One thing that hasn’t changed much is the costumes kids love most. The top picks this year include princesses, Spider-Man, and pirates, two of which I can recall dressing up as in the 1960s. Witches and fairies round out the top five.
Speaking of costumes, I’ve got to wrap this up because I’m off to the temporary Halloween superstore in search of a black pointy hat!
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