When the ghouls, goblins, pirates and princesses take to the streets on October 31, chances are their booty won't be up to par this year. Fewer people plan to hand out candy and decorate their home or yard, according to a survey of 8,526 consumers from Sept. 1 to Sept. 9. by the National Retail Federation, a Washington- based trade group and conducted by BIGResearch.
Halloween shoppers in the U.S. will cut back on costumes and trick-or-treat candy this year, as consumers reduce spending on non-essentials, reports Bloomberg. They plan to spend an average of $56.31 for this year's Halloween, down from $66.54 in 2008, according to the survey. Total spending will decline 18 percent to $4.8 billion from $5.8 billion last year.
Fewer people this year plan to celebrate Halloween, the eighth-largest U.S. spending holiday, according to the NRF. Job losses and falling home values have curbed household spending in 2009. While U.S. retail sales rose 2.7 percent in August from July, boosted by back-to-school spending, they fell 5.3 percent compared with the same period last year, according to figures from the Commerce Department.
"The economy has caught up to Halloween this year," Tracy Mullin, president and CEO of the NRF, said in the statement.