Despite a turbulent economic environment, more consumers say they are willing to spend money to celebrate the Halloween holiday, according to the Halloween Spending Survey released by Corporate Research International (CRI), a market research and mystery shopping firm that specializes in tracking consumer trends through opinion surveys.
The survey shows nearly 75% of consumers who participate in Halloween activities plan to spend about the same or more than they did last year.
CRI’s annual survey revealed that 84% of respondents said they plan to participate in Halloween-related activities. Of those respondents, 53% said they plan to spend up to $50 on Halloween overall this year. Twenty-two percent said they plan to spend between $50 and $100, and an additional 10% said they would spend up to $150.
Candy still tops the list of items on which consumers are willing to spend the most money. Fifty-seven percent of respondents said they plan to spend up to $25 on Halloween candy; an additional 22% said they would spend up to $50.
Only 22% of respondents said they would spend money on Halloween decorations. The vast majority (53%) said they aren’t willing to spend any money on decorations this year.
"Many retailers will be surprised by these numbers, but year after year we’ve seen that Halloween is a beloved American holiday that stretches far beyond candy," said Mike Mallett, CEO of CRI. "I think consumers are looking for a chance to relax and enjoy the holiday without having to worry about the economy. Coupled with the fact that Halloween bumps up against a weekend this year, it’s sure to mean a big boost for retailers."
Of the 84% of respondents who celebrate Halloween, the top activities include: