By Karen Axelton
There’s a bright spot on the retail horizon: Halloween. According to a new survey from the National Retail Federation, Halloween spending is predicted to increase to $5.8 billion this year. The average adult will spend $66.28 on the holiday, up $10 from last year.
A record number of adults (40 percent) plan to dress in costume, up from 33 percent last year. Overall, 64 percent of Americans will celebrate somehow:
72 percent will pass out candy to trick-or-treaters
50% will decorate their home or yard 46% will carve a pumpkin.
What will they be spending on? Costumes ($23.37), candy ($20.29), decorations ($18.66) and greeting cards ($3.95).
Helping boost sales, NRF says, is the timing of Halloween on a Sunday this year, which means people are more likely to celebrate all weekend long.
What groups are most likely to spend? The biggest category is 18 to 24-year-olds; 69.4 percent of them are going to dress up, and 55.4 percent will hold or attend a party. Also getting in on the act: 11.5 percent of pets will be costumed this year.
There are still a few party poopers out there: While overall spending is up, nearly one-third of respondents say they will cut back this year due to the economy.