This year's total Halloween spending is expected to reach $12.2 billion in the US, surpassing last year's figure of $10.6 billion. According to the National Retail Federation's (NRF) latest survey, a historic 73 per cent of Americans will take part in Halloween festivities, a bump from last year's 69 per cent.

NRF president and CEO Matthew Shay attributed the surge in spending to an increased consumer eagerness to celebrate the holiday. "Retailers are well-stocked, expecting a high turnout of shoppers looking for festive décor and costumes.”

Per person spending is also poised for a new high at $108.24, notably rising from $102.74 in 2021. Costumes are the major driver of this increase, with a record 69 per cent planning to purchase them this year. The overall spending on costumes alone is anticipated to be $4.1 billion, NRF said in a media release.

Interestingly, shopping trends for Halloween are starting earlier than before, with 45 per cent planning to shop before October. “Younger consumers, particularly those aged 25-44, are leading the early shopping trend," said Phil Rist, prosper executive vice president of strategy.

Discount stores remain the top choice for Halloween shopping, followed closely by specialty stores and online platforms. Adult and children's costumes are expected to see spending increases of 18 per cent and 20 per cent, respectively, from last year.

The survey, conducted from September 1-6, involved 8,084 consumers and has a margin of error of ±1.1 percentage points.

Fibre2Fashion News Desk (KD)

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