The National Retail Federation said recently that
the bad economy will likely hit retailers especially hard this Halloween. According to
a NFR survey [PDF], people are planning to cut back on parties, costumes and decorations:
" 'The economy has caught up to Halloween this year,' said Tracy Mullin, President and CEO, National Retail Federation. 'Since retailers know that Americans will be looking to celebrate on a budget, there's no doubt we will see creative costume and decorating ideas in every price point imaginable.
"As more evidence of just how pervasive the effect of the recession has been, fewer people plan to celebrate Halloween this year (62.1 percent vs. 64.5 percent last year), and those who are celebrating will participate in fewer activities. According to the survey, one-third (33.4 percent) will dress in costume, compared to 35.3 percent last year. The number of people carving a pumpkin will also drop (42.4 percent compared to 44.6 percent last year). Additionally, fewer people will throw or attend a party (30.2 percent vs. 31.1 percent in 2008), visit a haunted house (17.0 percent vs. 18.1 percent in 2008) and hand out candy (71.2 percent vs. 73.7 percent last year). Even with the advent of life-sized yard decorations, which have become immensely popular in recent years, fewer people plan to decorate their home or yard (47.3 percent vs. 50.3 percent).
"Young adults, who were last year's big spenders for Halloween, plan to scale back dramatically this year. According to the survey, the average 18-24 year-old will spend $68.56 on the holiday, compared to $86.59 last year and $81.91 in
2007."
that may be helpful for background purposes.
