Last year Americans spent an estimated $6.9 billion on Halloween, making it the country’s second largest commercial holiday, but the National Retail Federation released a survey this week saying that consumers intend to spend less in 2009 because of economic conditions, with total spending expected to reach only $4.75 billion. On average, the 2009 Halloween Consumer Intentions and Actions Survey shows that consumers plan to spend about $10 less for this year’s holiday over last year.
Over 60% of those surveyed do still plan to celebrate Halloween 2009, but more are planning to create their own costumes and most are planning to spend less on candy and decorations. Still, more than 4 out of 5 costumes worn this year will be purchased rather than homemade.
Young adults aged 18 – 24 who usually spend the most for Halloween festivities plan to curtail the most this year, spending an average of around $68 (as compared to $86 last year).
National Retail Federation president and CEO Tracy Mullin indicated that since retailers know that Americans will be looking to celebrate on a budget, they will be offering creative costume and decorating ideas in every price point imaginable. “The economy has caught up to Halloween this year,” said Mullin.
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