Halloween Spending to Hit $5.7 Million: NRF

Despite a scary economy, retailers won’t have much to fear with Halloween sales this year, according to a recent National Retail Federation survey.

Total Halloween spending this year is estimated to reach $5.77 billion, up from $5.07 billion last year, the NRF said. The average person plans to spend $66.54 on the holiday, up from $64.82 in 2007, according to the NRF’s Halloween Consumer Intentions and Actions Survey. survey, which polled 8,167 consumers.

Nearly 65% of those surveyed said they plan to celebrate this year, compared to nearly 59% last year, the survey said.

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

The survey also found that consumers plan to spend an average of $24.17 on costumes, $20.39 on candy, $18.25 on decorations and $3.73 on greeting cards. And adults 18 to 24 said they expect to spend the most of any age group on the holiday, with an average of $86.59, it found.

“After months of bleak economic news, consumers are looking for a reason to let loose,” Phil Rist, vice president of strategy for BIGresearch said in a release.

Some 74% of people polled said they would celebrate Halloween by passing out candy, whereas close to 45% would carve a pumpkin and more than 50 percent said they would decorate. In addition, more than 35% of respondents said they would wear a costume, more than 31% would throw a party and nearly 34% would take their children trick-or-treating.