The economy might be called a slow-motion horror story, so maybe that is influencing consumers to take the horror holiday – Halloween – as an opportunity for some serious fun this year. A new study says families are ready to spend a little cash to celebrate.
Thrift merchandiser Savers Inc. has taken stock of consumers for the second time, and according to its latest Halloween Shopping Survey, an average family is going to spend a good $300 on costumers, decorations and other items this year.
According to the survey, 90% of those who choose to get all dressed up will be going for a new look, at least in part, from last year; and 81% will be in the market for new decorations.
But as has been the case of late, price points will be a major factor in what is bought where. Savers said, “However, shoppers are still looking to be savvy and cut costs wherever they can, and more than half (54%) of people planning to dress up this year will either combine new and secondhand items or make their costume by hand in order to create a unique look and get the best value for their Halloween budget.”
Savers clearly hopes to benefit from the combination of a desire to spend and economize. “Halloween is one of our biggest times of year at Savers, and it keeps getting bigger. In fact, over the last five years we’ve seen Halloween sales increase more than 35 percent. It’s a holiday where you can escape from everyday worries, alter your ego and just have fun celebrating with friends and family. People love that,” said Savers’ Ken Alterman. “But we also know that everyday financial struggles are a real concern for many, and at Savers you don’t have to spend a fortune to have a memorable Halloween.”
The report notes that those who plan on costuming a pet are the biggest spenders, and they’re ready to expend an astonishing $59 per pooch (or other pet). Children can only expect to have an average of $32 spent on them by contrast. Parents will put an average $52 into their own outfit.
The survey was conducted over the summer for Savers Inc. by Kelton Research. Over 1,000 consumers aged 18 years or older were surveyed.
RBR-TVBR observation: Strike while the iron is hot, they say. We would note that other studies we’ve seen repeatedly note that consumers are limiting shopping trips both in terms of frequency and distance – this plays into the hands of local retailers, and local media like broadcast TV and radio.