By Tom Ryan
According to a survey from the NRF, the average person plans to spend $64.82 on Halloween this year, up nearly 10 percent from the $59.06 they spent a year ago,
Total Halloween spending this year, including candy, costumes and decorations, is expected to reach $5.07 billion.
The average person will spend $23.33 on Halloween costumes (including children's and pet's costumes), though young adults will spend far more. According to the survey conducted by BIGresearch, 18-24 year-olds plan to spend $34.06 on costumes, nearly twice as much as they plan to spend on candy ($19.65). Overall, average spending will rise in all categories, including candy ($19.84), decorations ($17.73) and greeting cards ($3.92).
"Halloween should give retailers a nice boost in sales as they open the crucial fourth quarter," said Tracy Mullin, President and CEO of NRF. "This is the time of year that retailers are at their best, stocking the shelves with new and innovative product to help consumers celebrate in style."
The most popular activity on Halloween this year will be handing out candy, with nearly three-fourths (72.9 percent) of consumers planning to stay home to hand out treats. Other popular activities will include pumpkin carving (43.3 percent), decorating a home and/or yard (47.8 percent), and throwing or attending a Halloween party (28.3 percent). The NRF 2007 Halloween Consumer Intentions and Actions Survey was designed to gauge consumer behavior and shopping trends related to the Halloween season. The survey polled 8,877 consumers from September 4-11.
The expected gains come as more retailers and suppliers continue to more aggressively marketing the holiday earlier in the season.
"We've found our customers begin thinking about Halloween shortly after Labor Day," said Karen Burk, a spokeswoman for Wal-Mart Stores, which had its stores set for Halloween by the weekend after Labor Day.
On the supplier side, Halloween-inspired commercials have already come out from Hallmark Cards, Lenox, Mars, the Popcorn Factory and Advil analgesic, according to the Times. And on the media side, many magazines have moved up editorial coverage around Halloween themes to their October issues (which arrive in September) to meet reader demand.
"If the choice is between being a little late with holiday coverage and being a little early, we'd rather be early," said Gayle Butler, editor in chief at Better Homes and Gardens.
Discussion Questions: What do you think of the growing retail sales opportunities around Halloween? Are some retailers overdoing it? How can retailers best capitalize on such opportunities while minimizing markdown risks?