Halloween: Retail's Bright Spot

A night normally reserved for trickery might prove to be pretty treat-filled for retailers this year. According to the National Retail Federation's Halloween Consumer Intentions & Actions Survey (as report by ddimagazine.com), not only do consumers plan to celebrate the holiday this year, they plan to spend a little more than they did a year ago to do so. Some highlights from the survey:

• Total spending on the holiday could reach $5.77 Billion
• Consumers will spend an average of $24.17 on costumes
• An average of $20.39 will be spent on candy (a conservative estimate for my household)
• That ever-popular 18-24 age group will be the big spenders, averaging $86.59
• The most popular activities include handing out candy, decorating, and pumpkin carving (dressing in costume didn't break the top 3, but made a respectable showing at 35.8%)

It looks like Halloween is popular with the populace. This just shows that even in the middle of uncertain economic times, people still like to celebrate. And, as the article points out, Halloween could provide a little boost to retail, which is in the middle of a less-than-stellar fall.

So, if you're in the Halloween business, enjoy it. If you're not, I'd seriously consider finding a creative way to get in on the action. Pumpkin carving contest, anyone?