Retailers expect Halloween spending to be up this year
It appears that Nevadans will not be spooked about spending money for this year’s Halloween.
The National Retail Federation said about 71.5 percent of U.S. consumers including Nevada will celebrate Halloween this year, up from 68.6 percent last year and a record number for the holiday.
Spending is also expected to increase, with consumers reporting they will spend an average of $79.82 on decorations, costumes and candy, up from $72.31 reported last year.
Assuming national trends hold true for Silver State, the Retail Association of Nevada reports an estimated 1.5 million Nevada residents ages 18 and over will be shopping to help their families celebrate Halloween this year. If Nevada consumers spending on the holiday keeps pace with national averages, celebrants will generate $118 million in Halloween-related revenue at retailers statewide.
Compared to last season, when total spending was estimated at $107 million, revenue collected by Nevada retailers will increase by 10.4 percent.
Of those celebrating Halloween this year, the RAN estimates 51.4 percent will decorate their home or yard, up 1.9 percentage points from the 49.5 percent reported last year.
Approximately 45.0 percent will dress in a costume, up from 43.9 percent last year. Notably, 35.7 percent of those surveyed said they would look for inspiration for Halloween costumes within a retail store or costume shop; others will consult such sources as print media, friends and family, television, and Facebook, to name a few. Additionally, 15.1 percent say they plan to dress their pets in a costume as well. Also notable, 25.9 percent of consumers say the state of the economy will impact their Halloween plans, causing them to spend less; of these consumers, 18.0 percent will make a costume instead of purchasing one from a store.
Mary Lau, President of RAN said retail spending is rising in Nevada, and Halloween is always a great excuse to make a few fun purchases. With Halloween spending in the state expected to reach its highest level yet, there is reason to remain optimistic about sales trends throughout the rest of the year, especially during the approaching winter holiday season.