WASHINGTON, 2016-Sep-24 — /EPR Retail News/ — Americans are looking forward to splurging on their favorite candy and costumes this Halloween season. According to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics, total spending for Halloween is expected to reach $8.4 billion, an all-time high in the survey’s 11-year history.
U.S. consumers are expected to spend an average of $82.93, up from last year’s $74.34, with more than 171 million Americans planning to partake in Halloween festivities this year.
“After a long summer, families are excited to welcome the fall season celebrating Halloween,” NRF President and CEO Matthew Shay said. “Retailers are preparing for the day by offering a wide variety of options in costumes, decorations and candy, while being aggressive with their promotions to capture the most out of this shopping event.”
According to the survey, consumers plan to spend $3.1 billion on costumes (purchased by 67 percent of Halloween shoppers), $2.5 billion on candy (94.3 percent), $2.4 billion on decorations (70 percent) and $390 million on greeting cards (35.4 percent).
When it comes to preparation, 71 percent of consumers plan to hand out candy, decorate their home or yard (49 percent), dress in costume (47 percent), carve a pumpkin (46 percent), throw or attend a party (34 percent), take their children trick-or-treating (30 percent), visit a haunted house (21 percent) or dress their pet(s) in costume (16 percent).
Searching for the perfect costume inspiration will lead consumers to sources such as online (35 percent) and in-store (29 percent). Social media is the fastest-growing influencer for the perfect costume, particularly Pinterest (17 percent), which has seen 133 percent growth since 2012. Some other places for inspiration include friends/family (19 percent), Facebook (17 percent), pop culture (16 percent) and print media (14 percent).
“Consumers are eager to celebrate Halloween, especially given that eight in 10 Americans will shop by mid-October. That is the highest we have seen in the survey history,” Prosper Insights Principal Analyst Pam Goodfellow said. “Americans will enjoy taking advantage of early-bird promotions both online and in-store as they kick off the fall season.”
When it comes to where consumers will shop for the season, 47 percent of shoppers will visit discount stores to buy their Halloween-related items this year and 36 percent will visit a specialty Halloween/costume store, up from 33 percent last year. In addition, 26 percent of customers will visit grocery stores/supermarkets, 23 percent will visit department stores and 22 percent will shop online.
The survey asked 6,791 consumers about Halloween shopping plans. It was conducted September 6-13 and has a margin of error of plus or minus 1.2 percentage points.
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NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s This is Retail campaign highlights the industry’s opportunities for life-long careers, how retailers strengthen communities and the critical role retail plays in driving innovation. NRF.com