Halloween Plans Won’t be Spooked by Economic Frights

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By Sandra M. Jones

RISMEDIA, Oct. 16, 2008-(MCT)-The stock market slide has spooked plenty of Americans, but not enough to scare them away from shopping for the nation’s spookiest holiday.

In fact, two out of three Americans plan to celebrate Halloween, according to the National Retail Federation, the biggest turnout since the retail trade group began tracking the holiday in 2001.

Halloween arrives just in time to provide an escape from the grim headlines and ghastly economic upheaval. It is a pattern reminiscent of Halloween 2002, when consumers were in a funk tied to an economic downturn and the aftershocks of the Sept. 11 attacks, said Ellen Davis, vice president of the Washington, D.C.-based trade group.

“The fact is that everybody needs a break,” Davis said.

While a relatively minor holiday based on retail dollars spent (it ranks No. 8 below Christmas, Mother’s Day and Valentine’s Day, to name a few), the Halloween business has grown steadily for the past five years.

Halloween spending this year is expected to reach $5.77 billion, up from the $3.12 billion in 2003, according to the federation. The average consumer plans to spend $66.54 on Halloween goods this year, up from $64.82 in 2007.

Halloween falls on a Friday this year, a good omen for party hosting. And retailers are doing all they can to stretch the season by prominently displaying Halloween-themed products online and in stores.

Williams-Sonoma is offering a pumpkin carving kit for $29.95 and personalized skeleton aprons for parents and kids from $18 to $24. Pottery Barn has $19 skull votive candleholders and $49 spider web table runners. And at Crate & Barrel, you can pick up an orange spatula with a black cat on it for $6.95.

Not to be outdone, PetSmart operates “Howl-o-Ween Central” where dog and cat owners can buy Halloween costumes and toys for their furry friends.

Halloween has turned into a holiday that “stretches far beyond candy,” said Mike Mallett, CEO of Corporate Research International, a Findlay, Ohio-based market research and mystery shopping firm. The firm found that three out of four consumers plan to spend about the same or more than they did last year on Halloween, even as consumer spending industry-wide is in retreat.

“I think consumers are looking for a chance to relax and enjoy the holiday without having to worry about the economy,” Mallett said. “Coupled with the fact that Halloween bumps up against a weekend this year, it’s sure to mean a big boost for retailers.”

The retail federation polled consumers from Sept. 2-9, and Corporate Research conducted its survey from Sept. 30-Oct. 3.

© 2008, Chicago Tribune.
Distributed by McClatchy-Tribune Information Services.

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