The spookiest holiday of the year may bring a bit of needed relief to consumers and retailers. According to the National Retail Federation’s Halloween Consumer Intentions and Actions Survey, conducted by BIGresearch, more consumers plan to celebrate the holiday this year (64.5 percent vs. 58.7 percent).

This year, the average person plans to spend $66.54 on the holiday, up from $64.82 one year ago, the research shows. Total Halloween spending for 2008 is estimated to reach $5.77 billion.

Though the economy is struggling, Halloween sales may be a bright spot for retailers this fall,” said Tracy Mullin, NRF president and CEO. “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.”

This year’s survey results are reminiscent from 2002 Halloween data. Though consumers at the time were uncertain about the economy and a host of geopolitical factors, Halloween spending was strong. The holiday was seen as a way for consumers to escape from the uncertainties of daily life. In addition, many consumers at the time saw Halloween as a way to let loose during an otherwise tense period. NRF expects to see some of the same patterns this year for Halloween, as evidenced by the fact that the number of people who plan to celebrate is up and that people plan to spend moderately more than a year ago.

This year, consumers will spend an average of $24.17 on Halloween costumes (including costumes for adults, children and pets). People will also be buying candy ($20.39 on average), decorations ($18.25) and greeting cards ($3.73).

Halloween remains most popular with young adults, as 18-24 year-olds plan to spend $86.59 on the holiday, the most of any group.

People will celebrate Halloween in a variety of ways, with the most popular activities including handing out candy (73.7 percent), carving a pumpkin (44.6 percent) and decorating (50.3 percent). Many consumers will also dress in costume (35.3 percent), throw or attend a party (31.1 percent), and take children trick-or-treating (33.6 percent).

“After months of bleak economic news, consumers are looking for a reason to let loose,” said Phil Rist, vice president of strategy for BIGresearch. “And with Halloween falling on a Friday this year, consumers may plan to celebrate all weekend long.”

What to wear
Looking for an idea for this year’s costume? The National Retail Federation survey reveals the most popular costumes for 2008 will be:

Top Children’s Costumes
1. Princess
2. Witch
3. Hannah Montana
4. Spider-Man
5. Pirate
6. Star Wars Character
7. Pumpkin
8. Batman
9. Disney Princess
10. Athlete/Ghost (tie)
11. Action/Super Hero
12. Dora the Explorer/Diego
12. Monster
13. Cat/Fairy (tie)
14. Cheerleader
14. Ninja/Vampire (tie)
15. Firefighter

Top Adult Costumes
1. Witch
2. Pirate
3. Vampire
4. Cat
5. Fairy
5. Nurse
6. Batman
6. Political (Obama, McCain, etc.)
7. Ghost
8. Angel
9. Clown/Wench/Tart/Vixen (tie)
10. Athlete/French Maid/Queen (tie)
11. Zombie
12. Cowboy/Cowgirl, Dracula, Devil (tie)
13. Princess

Top Pet Costumes
1. Pumpkin
2. Devil
3. Witch
4. Princess
5. Hot Dog/Superman (tie)
6. Bee
7. Bowties/Fancy Collars, etc.)
8. Ghost
9. Black Cat
10. Angel/Reindeer/Deer (tie)
11. Athlete/Pirate
12. Bat/Batman/Clown/Vampire
13. Star Wars Character
14. Biker

Source: BIGresearch, CIA September 2008

Comments (0)

Subscribe to this comment's feed