Halloween has become one of the big retail events of the year, and indications this year point to even higher sales volumes, according to Duquesne marketing professor Audrey Guskey, who says the holiday could boost the national economy.
Consumers spend more than $72 per person on candy, decorations, parties, and costumes, according to Guskey. Adults now spend more on costumes for themselves—$1.2 billion—than the $1 billion they spend on their kids. Pets dress up at a cost of $310 million.
Guskey says worries about the economy and job security may actually lead to more spending on the fun and escape of Halloween. Retailers welcome the position indicators about this year's Halloween sales because they forecast a good Christmas season.