Hal­loween candy is a $2.5 bln in­dus­try

Financial Mirror (Cyprus) - - FRONT PAGE -

Of the to­tal $7.4 bln that the Na­tional Re­tail Fed­er­a­tion ex­pects U.S. con­sumers to spend on Hal­loween cel­e­bra­tions in 2014, about one-third of that amount or $2.5 bln will be spent on candy, ac­cord­ing to the Na­tional Con­fec­tion­ers As­so­ci­a­tion (NCA).

About 75% of U.S. house­holds plan to dis­trib­ute candy to the gob­lins, su­per­heroes and zom­bies that show up at their doors on Hal­loween. And if the trick-or-treaters want to max­i­mize their hol­i­day take, they should visit the homes of peo­ple who are 60 or more years old. Some 84% of those in that age group will be pass­ing out candy on Hal­loween.

The most popular candy treat: choco­late, the favourite of 72% of Americans. Candy corn trailed in a dis­tant sec­ond with 12%. More than 60% of candy buy­ers chose their own fa­vorites when buy­ing candy to give out as Hal­loween treats.

Mil­len­ni­als are the most likely to cel­e­brate with par­ties and cos­tumes. More than half say they will at­tend a Hal­loween party this year and 47% will be in cos­tume. About 13% of those sur­veyed plan to dress up their pets for the hol­i­day, in­clud­ing 24% of mil­len­ni­als.

The Na­tional Re­tail Fed­er­a­tion es­ti­mates that spend­ing on chil­dren’s cos­tumes will to­tal $1.1 bln, while adults will spend $1.4 bln on cos­tumes for them­selves and another $350 mln on cos­tumes for their pets.

Cos­tumes get about a third of the to­tal Hal­loween spend­ing, while candy gets another third. The rest goes for dec­o­ra­tions, food and other party sup­plies. Maybe some Americans even buy a few ap­ples to give to trick-or-treaters in­stead of candy. It could hap­pen.

One fi­nal note: the NCA re­ports that 78% of par­ents ad­mit “shar­ing” candy from their kids’ haul. We be­lieve the other 22% are con­gen­i­tal liars.

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