Retailers Prepare for Halloween Sales
With Halloween approaching, consumers are looking to scare up their sales numbers. According to the National Retail Federation’s (NRF) Halloween Consumer Intentions and Actions Survey, conducted by BIGresearch, consumers are expected to spend more on Halloween this year than last year. The average consumer plans to spend approximately $65 on the holiday compared to $59 one year ago. Total Halloween spending for 2007 is estimated to reach $5.07 billion.
“Halloween should give retailers a nice boost in sales as they open the crucial fourth quarter,” said Tracy Mullin, NRF president and CEO. “This is the time of year that retailers are at their best, stocking the shelves with new and innovative product to help consumers in style.”
Halloween party-goers will be on the lookout for candy, costumes and decorations. According to the survey, the average person will spend $23.33 on costumes, but young adults (18-24 year-olds) plan to be the most festive, spending $34.06 on costumes. The survey results show that average spending will rise in all categories, including candy, decorations and greeting cards.
“Halloween is often a time for consumers to set aside their real concerns to focus on the imaginary,” said Phil Rist, vice president of strategy for BIGresearch. “As news about the economy floods the airwaves, many Americans want to take a break from reality to have a bit of fun.”
The most popular activity on Halloween this year will be handing out candy, with 72.9 percent of consumers planning to stay home to hand out treats. Other popular activities will include pumpkin carving (43.3 percent), decorating the 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, which polled 8,877 consumers, was conducted for NRF by BIGresearch on Sept. 4-11, 2007.
Go to www.nrf.com for more information.
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