10 frightening financial facts about Halloween
Here’s a heads up for penny pinchers — if spending money on freakish fun makes your skin crawl, beware the 31st of October. The National Retail Federation (NRF) anticipates that the holiday will be celebrated in record numbers.
Look at what’s brewing according to a recent NRF Halloween Consumer Spending Survey:
1. Total spending for costumes, decorations, candy and more is estimated at $7.4 billion.
2. The average shopper will spend $77.52 this Halloween, compared to $75.03 in 2013.
3. Consumers will spend $1 billion on children’s costumes and $1.4 billion on adult costumes.
4. Dogs and cats will be in on the act as well — $350 million is expected to be spent on pet costumes.
5. Many children (as well as some adults!) are likely to want to dress up as of-the-moment characters from the popular movies Frozen or Teenage Mutant Ninja Turtles. Others may stick to more traditional costumes, such as witches, animals and pirates. Creative souls plan to scan the online site Pinterest for costume inspiration.
6. Dentists may be enjoying Halloween even more this year thanks to the more than $2.2 billion to be spent on candy.
7. Forty-six percent of survey respondents plan to decorate their home or yard, and indoor and outdoor Halloween décor spending is estimated at $2 billion.
8. 1/3 of Americans plan to attend or host a Halloween party on the frightful Friday. The NRF expects online and brick-and-mortar retail shops of all sizes to see heavier traffic as Halloween gets closer.
9. Even the greeting card industry should see a boost — 35% of shoppers intend to send a funny or spooky greeting.
10. With all this spending comes some good financial news — more than 81% say the economy is not effecting their Halloween plans. Penny pinchers, it may be OK to loosen up and have some fun!
