Is it going to be a bone-chilling Halloween for retailers, or a frightful season of riches? The coronavirus pandemic has possessed every corner of the economy. According to the National Retail Federation (NRF), Americans are still expected to spend billions of dollars though.
What are shoppers expected to buy?
- Candy: 96%
- Costumes: 65%
- Decorations: 75%
- Greeting Cards: 40%
The top celebration plans include dressing up, carving pumpkins, decorating the house, and handing out candy (if there are any kids).
The History of Halloween Spending
Halloween has always been one of the best seasons of the year for retailers. Since 2016, total U.S. consumer spending this time of year has ranged between $8.4 billion and $9.1 billion. The average spending per buyer has also been more than $80 annually for the last four years.
Because the U.S. economy relies mostly on the consumer, retail trends can tell us how the economy is doing.
Everyone Deserves a Little Scare
“It’s Halloween, everyone’s entitled to one good scare.”
That line may be from the classic horror picture, Halloween, but it also sums up life in 2020. People need a distraction from this year.
Steven Silverstein, President and CEO of Spirit Halloween, wrote on NRF’s blog:
“The magic of Halloween is transformative. We need this now more than ever. It brings sheer fun and joy for families, especially for the kids. That is the beauty of Halloween – it’s stress-free and designed to be outdoors. It’s a celebration and opportunity to transform into whoever or whatever you want to be.”