NRF Reports “BOOming” Halloween Sales

This article contains excerpts from a press release published on the National Retail Federation (NRF) website entitled Consumers Eager To Have A Frightfully Good Time This Halloween, According To NRF.

October 7, 2011 | Halloween consumer spending this October is forecasted to be the highest that it has been in the past 10 years with product spending expected to reach $6.8 billion, according to the National Retail Federation (NRF).

Wondering which costumes will be flooding the streets on October 31st? According to the NRF, the trendiest picks this year include zombie, vampire and princess costumes. More than 2.6 million men, women and children plan to dress as zombies… And new this year: Disney princesses are among the top 10 picks for little girls. 
Seven in 10 Americans (68.6%) will shell out $72.31 on decorations, candy and costumes – up from 63.8% Americans who spent on average $66.28 each in 2010, according to the NRF’s 2011 Halloween Consumer Intentions and Actions Survey, which polled 9,374 Americans.

More people will dress in costume (43.9% vs. 40.1% in 2010) and throw or attend a party (34.3% vs. 33.3% in 2010), while half (49.5%) will decorate their home or yard and 14.7% will dress their pets in costume. Nearly three quarters of those surveyed (73.5%) will hand out candy and 32.9% will take kids trick-or-treating.

Americans are forecasted to spend $1 billion on children’s costumes – up from $840 million last year, with the average consumer spending $26.52 on Halloween apparel. As for decorations, more people this year than in the survey’s history will decorate – spending an average of $19.79.

However, the sluggish economy will continue to have an impact on consumer spending.  Nearly one-third (32.1%) of survey respondents said the economy will impact their Halloween plans, with 87.1% saying that they plan to spend less overall.  Methods for cutting costs include making a costume instead of buying one (18.9%), recycling last year’s costume (16.6%) and buying less candy (40.2%).