The National Retail Federation (NRF) annual survey reveals this Halloween should reach an 11-year high in retail spend, to $8.4 billon. US shoppers are expected to spend an average of $82.93, up $8.60 per person compared to 2015.
While candy sales ($2.5 billion) are always attributed to Halloween, retailers should see an uptick in sales of costumes ($3.1 billion), decorations ($2.4 billion) and greeting cards ($390 million). Home improvement retailers, such as Home Depot and Lowe’s, have increased their decorations inventory versus previous years. Homedepot.com has Halloween at the top of their web page and an entire section of their site dedicated to Halloween. Lowes.com does as well, and storefronts are covered in Halloween lawn and home decorations.
Consumers surveyed plan to spend the most in the first 2 weeks of October (44.4%).
“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.”
Sources: NRF, CI News
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