IE Business Daily Business news for the Inland Empire.
U.S. consumers are expected to spend $12.2 billion on Halloween items this year, $1.6 billion more than last year’s record spending if that prediction is accurate, according to the leading retail trade association.]
Seventy-three percent are expected to take part in Halloween activities this year, a four-percent increase compared with 2022, the National Retail Federation in Washington, D.C. is predicting.
“More Americans than ever will be reaching into their wallets and spending a record amount of money to celebrate Halloween this year,” said Matthew Shay, the nonprofit federation’s president and chief executive officer, in a statement. “Consumers will be shopping early for décor and other related items, and retailers are prepared with inventory.”
Thirty-two percent of all consumers say they will throw a Halloween party this year, and 28 percent said they plan to take their children trick-or-treating. T
Consumers plan to spend a record $108.24 each, up from the previous record of $102.74 three years ago, according to the federation’s forecast.
