Wow, people spend a lot on Halloween!
So what sort of spooky Halloween costume do you have in mind for this year?
A frightful mortgage banker? A creepy dollar?
Whatever your plans, Halloween is predicted to be this year’s bright spot in the business world.
Industry trade group the National Retail Federation expects retail sales in November and December to increase a meager 2.2 percent - the weakest growth since 2002 - but the group also found that more people this year plan to celebrate and spend more on Halloween.
The average person plans to spend $66.54 on the holiday, up $64.82 a year ago while 64.5 percent plan to celebrate the day versus last year’s 58.7 percent.
“Consumers, who have been anxious and uncertain for the past several months, may be looking at Halloween as an opportunity to forget the stresses of daily life and just have a little fun,” said NRF President and CEO Tracy Mullin.
Total Halloween spending for 2008 is estimated to be nearly $6 billion. It also helps that Halloween is on a Friday this year, so many people are planning to celebrate through the weekend.
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