Stock market gremlins and ghouls have been appearing this week, making September retail sales vanish. But Halloween just won’t be denied. Total consumer spending on this increasingly popular holiday is projected to be a healthy $7.4 billion, up from $6.9 billion last year.
The average person will spend $77.52 on Halloween, up from $75.03 last year, the National Retail Federation said in its annual Halloween Consumer Spending Survey.
Where will most of that spending go? Toward costumes, of course – the more freakish and elaborate the better – for a total of $2.8 billion, including $1.4 billion on adult costumes. Over two-thirds of Halloween celebrants will shell out money for a costume, more people than any other year in the survey’s 11-year history.
They’ll also spend $2.2 billion on candy and another $2 billion on decorations.
But those costumes are key. “There’s no question that the variety of adult, child and even pet costumes now available has driven the demand and popularity of Halloween among consumers of all ages,” said Matthew Shay, NRF’s president and CEO in a statement. Since Halloween falls on a Friday this year, more people than usual may be participating in the holiday, he noted.
Some of the more outrageous costumes this year cost a fortune, too, especially the intricate numbers with elaborate props and complicated accessories.
Many of the wildly expensive Halloween costumes can be found on eBay, like limited editions of the Frozen characters’ outfits. You’ll be seeing so many versions of Anna and Elsa this year, you might start having nightmares.
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