retail

Consumers Are Hungry For Halloween

 

While retailers’ usual Halloween tricks are right on schedule, this year’s real treat may be a record $13.1 billion in spending, according to the National Retail Federation — topping last year’s $11.6 billion and the prior record of $12.2 billion. Per-person spending has climbed to a record $114, nearly $11 more than last year.

Some of that increase comes from shoppers who are aware of potential tariff impact and expect to pay more, with 79% of those in the sample anticipating higher prices.

“For consumers looking to balance their budgets, strategies such as buying early to spread out purchases or shopping at discount stores are just some ways they are being mindful of costs,” says Phil Rist, executive vice president of Prosper Insights & Analytics, which conducts the NRF survey. “Despite these budget considerations, consumers are committed to prioritizing Halloween celebrations to create special memories with their loved ones.”

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Of those celebrating — which includes about 73% of the 8,000 respondents —  66% plan to hand out candy, 51% will wear a costume, and 51% will decorate their home or yard.

Major retailers are providing special offers, from Costco’s Candy Bundles to Home Depot’s extravagant wireless skeletons to Nordstrom’s pumpkin pajamas.

Nearly half of consumers (49%) started Halloween shopping in September or earlier, up slightly from 47% last year. The top reasons: excitement for fall (44%), love of Halloween (37%), fear of missing out on items (33%), and avoiding last-minute stress (33%).

Discount stores remain the top shopping destination (42%), followed by specialty Halloween shops (31%) and online (31%).

About 32% plan to attend a party. Because the holiday falls on a Friday, bars, restaurants and attractions, like haunted houses and corn mazes, expect a brisk turnout.

But consumers shouldn’t expect many surprises when the doorbell rings. Perennial favorites dominate the top costume choices, led by witches, vampires, pirates and cats for adults, and Spider-Man, witches, ghosts and other superheroes for kids. For pets, you’ll see plenty of pumpkins, hot dogs, and bumblebees.

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