Do it for the economy

Partake in Halloween fun; spend on the holiday

Halloween becomes more popular as an American holiday each year. It has also become an economic stimulus.

A forecast by the National Retail Federation, which surveyed 7,400 consumers in September, found that adults plan to spend an average of $86 for the holiday of goblins and gourds, down just 50 cents from a year ago. In total nationwide, $8.8 billion is expected to be spent, the third highest in the survey’s 15 years.

An estimated 172 million people are likely to celebrate the event, a more affordable holiday than Christmas or Thanksgiving. The spending, if as strong as predicted, likely will buoy retailers’ expectations for the Christmas season, putting consumers and businesses in a good mood.

Halloween inspirations for costumes and decorations are driven this year by social media, the retail group found, with Pinterest the top web channel used by women and YouTube the most common channel used by men.

Spending on costumes is to tally up to $3.2 billion, decorations $2.7 billion, and candy $2.6 billion, the trade group predicted. Two thirds of those celebrating will buy costumes, about half will decorate their home or yard, nearly half will carve a pumpkin, and 95% will buy candy.

Surprisingly, only a quarter of people will shop online for costumes and other holiday items, compared with 42% heading to a discount store and 36% to a specialty store.

For costumes, princesses and superheroes will be the most common choices for children and witches and vampires will be lead selections for adults, the survey found. A ghost, one of the traditional costumes, isn’t in the top five. Also, 29 million people plan to dress their pets in costumes, with pumpkins and hot dogs the most likely outfits.

With the right attitude, those who haven’t decided to celebrate this fall holiday could join the bandwagon — in the interest of a good economy.