slides: How To Celebrate An Affordable Halloween In Central Mass.
Wednesday, October 23, 2013
“We’ve seen an increase from the last two years,” said Christine Arvanigian, manager of Halloween Outlet. “The traffic flow is up significantly in store and we think that’s because of out clearance tent, which has costumes as low as $5.”
Arvanigian may be on to something. According to the National Retail Federation (NRF), 158 million Americans plan to celebrate Halloween next week, spending a whopping $6.9 billion on costumes, candy, and decorations – a slight decrease from 2012 spending. While still partaking in festivities, more than 85% of Halloween shoppers will be looking for ways to cut costs, says RetailMeNot.com, actively searching for coupons and holiday deals.
Looking to pinch pennies this Halloween? See the slides, below, for some money saving ideas.
In its 2013 Halloween survey, the NRF estimated that the average Halloween celebrant would spend $75.03 on everything from costumes and candy to decorations and themed events. That’s down slightly from last year’s average spending of $79.82. Overall though, Halloween spending has been climbing, increasing more than 54.7 percent since 2005.
“Still one of the most beloved and anticipated consumer holidays, Halloween will be far from a bust this year,” said NRF President and CEO Matthew Shay. “After a long summer, the arrival of fall will put millions of Americans in the spirit to partake in traditional and festive activities. Retailers recognize that when it comes to Halloween, consumers’ creativity abounds. We expect retailers to stock their shelves with unique costume ideas for adults, children and pets, a variety of candy options and never-seen-before home and yard decor.”
Not Just For The Kids
And stock the shelves they have. Some costumes expected to be all the rage this year: Miley Cyrus á la the VMAs, Walter White from AMC’s hit show Breaking Bad, and the minions for Pixar’s Despicable Me. While a controversial pop star and TV meth dealer may not be kid friendly costumes, their popularity speaks to Halloween becoming more and more of an adult holiday.
Spending on adult costumes is expected to hit $1.2 billion this year, with spending on children’s costumes coming in at around $1 billion. Seven out of ten 18 to 24-year-olds surveyed by NRF said they planned to don a costume this year, as did 65 percent of those in their late 20s and early 30s. More than half of that age group (52%) plan to throw or attend a party, 36 percent plan to visit a haunted house, and 20 percent plan to dress up their pets. It is estimated that $330 million will be spent on pet costumes this year.
Spending won’t stop there. More that $2 billion will be spent on Halloween candy, and $360 million on greeting cards. Second only to Christmas in decoration spending, the NRF estimates consumers will shell out $1.96 billion on everything from blow up skeletons to fake spider webs.
Consumers Feeling The Pinch
Despite continued enthusiasm for the spooky holiday, a good chunk of consumers are expected to cut back this year. More than a quarter (25.2%) told NRF that the state of the economy would affect their spending. Almost nine in ten (86.1%) said they would spend less this year than in previous years. Eighteen percent said they would opt to make their costume rather than buying one and 32.7 percent said they would buy less candy.
Related Slideshow: Penny Pinching Strategies for Halloween
In tough economic times, everyone looks for ways to cut back and holiday festivities are no exception. With that in mind, RetailMeNot.com suggested several penny pinching strategies for the budget-conscious consumer this Halloween. Will your fright night be frugal fabulous?
Found the perfect costume or some ideal holiday decor? Don't purchase it at the first store. Take the extra time to do some comparison shopping. You may even want to check privces online before you head out ot the shops. RetailMeNot.com suggests Kohl's and Spirit Halloween for great holiday deals.
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