Rise in Halloween Spending Expected Despite Recession
Published in Maeil Kyungjae
(South Korea) on 31 October 2011
by (link to original)
(South Korea) on 31 October 2011
by (link to original)
Translated from
by Jiyoung Han.
Edited by Alyssa Goulding.
Despite the ongoing economic recession, consumer spending for Halloween this year is expected to be higher than that of last year.
Ellen Davis, vice president cum spokesperson of the National Retail Federation (NRF), appeared on CNN on Oct. 30 to explain that Halloween-related purchases would increase this year. “People love, in an economy like this one, to just get out, let loose, have a little bit of fun," Davis said.
"For example, in 2008, when everything was in the tank, Halloween spending rose,” Davis elaborated, “... part of that is because people are just looking for an opportunity to have a little bit of fun."
When the NRF surveyed 9,374 consumers last month, 68.6 percent replied that they would celebrate Halloween this year. This is the highest percentage of said reply since the survey was first launched in 2002.
Americans are projected to spend a total of $6.86 billion on Halloween decorations, candy and costumes this year, up 18 percent from last year’s total expenditure of $5.8 billion.
The average individual spent $66.28 on Halloween-related goods in 2010. This figure has reached $72.31 this year.
When asked whether Halloween would affect the American economy, 67.9 percent of those surveyed replied “no,” while 32 percent replied “yes.”
Davis cautioned, however, that the spike in consumer spending induced by Halloween should not be read as a sign of economic recovery to come.
Unlike Christmas, people are not expected to travel or give gifts. Nonetheless, retail performance on Halloween doesn’t predict the state of retail for Christmas.
Halloween originates from an ancient Celtic custom. It is celebrated every Oct. 31 as children don strange costumes and go door-to-door to receive candy and chocolates from their neighbors.
Ellen Davis, vice president cum spokesperson of the National Retail Federation (NRF), appeared on CNN on Oct. 30 to explain that Halloween-related purchases would increase this year. “People love, in an economy like this one, to just get out, let loose, have a little bit of fun," Davis said.
"For example, in 2008, when everything was in the tank, Halloween spending rose,” Davis elaborated, “... part of that is because people are just looking for an opportunity to have a little bit of fun."
When the NRF surveyed 9,374 consumers last month, 68.6 percent replied that they would celebrate Halloween this year. This is the highest percentage of said reply since the survey was first launched in 2002.
Americans are projected to spend a total of $6.86 billion on Halloween decorations, candy and costumes this year, up 18 percent from last year’s total expenditure of $5.8 billion.
The average individual spent $66.28 on Halloween-related goods in 2010. This figure has reached $72.31 this year.
When asked whether Halloween would affect the American economy, 67.9 percent of those surveyed replied “no,” while 32 percent replied “yes.”
Davis cautioned, however, that the spike in consumer spending induced by Halloween should not be read as a sign of economic recovery to come.
Unlike Christmas, people are not expected to travel or give gifts. Nonetheless, retail performance on Halloween doesn’t predict the state of retail for Christmas.
Halloween originates from an ancient Celtic custom. It is celebrated every Oct. 31 as children don strange costumes and go door-to-door to receive candy and chocolates from their neighbors.