Americans are slowing down on their spending this Halloween. Perhaps it is the state of the economy, including the government shut-down that left many federal employees sitting at home, with no pay. Perhaps it could be attributed to the ways that consumers have sought to better spend money, since the start of the 2008 recession. With a few more days left to tally all the numbers, the reasons aren't clear. Either way, the spending scale so far has tipped around $7B.
So what is there to purchase, for Halloween, that could possibly add up to the entire budget of a small country? Good that you asked. There has never been any shortage of scary things to partake of, when it comes to having the crap scared out of you. Right around Halloween, there are scary movie releases, products are repackaged to fit the October theme, and the grocery store shelves are filled with candy. Orange and black clothing is released for people and their pets. In fact, people are expected to spend around $300 million on Halloween costumes for their furry, scary dogs and cats. In the United Kingdom, Halloween is also a ghoulish holiday, in which consumers spend over £300 million to get their scare on.
A recent survey by the National Retail Federation (NRF) shows that roughly 168 million people plan to partake in the Halloween festivities. Some will give out candy, some adults will go to parties, spending millions of dollars (or more) on costumes and "spirits." Parents will also be spending a little over $1 billion on their children's costumes.
There's no doubt that no matter what the occasion, people are willing to spend any amount to have a fun and memorable experience.