By Jocelyn Chavez

 

Halloween may not be a traditional gift-giving holiday; however, for consumers, retailers and other businesses it is still a cause for celebration. Seven in 10 Americans plan to celebrate Halloween this year, up from nearly 64% last year, and the most in the National Retail Federation (NRF) Halloween Consumer Intentions and Actions Survey’s nine-year history. The 2011 survey, conducted by BIGresearch, also projects that consumer spending on Halloween will reach an all-time high of $6.86 billion this year- more than double the amount Americans spent in 2005. As consumers shop for everything from Halloween costumes and candy, to decorations and party venues, a wide-range of retail franchises, restaurants and other businesses are benefiting as people prepare for the highly-anticipated Halloween festivities.

 

While trick-or-treating may be the tradition most closely associated with Halloween, people of all ages are increasingly eagerly embracing Halloween. In addition to the 41 million potential trick-or-treaters ages 5 to 14, that the U.S. Census estimates went trick-or-treating in 2010, many adults are also donning costumes and attending Halloween celebrations. In fact, the NRF survey found that 43.9% of people plan to dress in costume, and more than 34% will throw or attend a party this Halloween.

 

All of that revelry adds up to significant sales. Consumer spending on adult costumes is even rivaling the amount spent on children’s costumes. The NRF estimates that Americans will spend $1.21 billion on adult costumes; and $1 billion on children’s costumes this year. Pets will also be included in the Halloween festivities, as 14.7% of pet parents in the U.S. plan to dress their pets in costume. Spending on pet costumes is expected to reach $310 million; with pumpkin, devil and hot dog pet ensembles among the most popular pet costumes featured on the list of top costumes for 2011.

 

The Halloween spirit is also on display in many homes and yards. Nearly half (49.5%) of all Americans will decorate their home/yard. Life-size skeletons, extra large inflatable pumpkins and fake cob webs are the most sought-after decorations this year. Spending on Halloween decorations is second only to spending on Christmas decorations, and this year Americans are expected to dole out an estimated $1.88 billion on Halloween décor and $2 billion on candy.

 

With consumers hitting the stores for their last-minute candy, costume and decorating needs, and Halloween revelers heading to parties at homes, restaurants and bars, the Halloween holiday season is a boon for numerous retailers, restaurants and other popular franchise businesses.