(WBBM NEWSRADIO) -- Halloween won't be spooky for retailers. They expect consumers to spend ghastly amounts of money.
The pandemic cast a shadow over the last two Halloweens, but this year retailers expect Halloween to look like it did in 2019. Halloween fans are getting ready for parties and streets packed with trick or treaters.
Chicago-based business writer Jennifer Waters told the WBBM Noon Business Hour that the National Retail Federation is counting on Halloween fans to spend big.
"We're talking about record spending of $10.6 billion, $3 billion in candy alone," Waters said.
Adults are expected to spend $2 billion on costumes for themselves. Pet costumes are another area of growth.
That information dovetails with the National Retail Federation's predictions. The group said in a recent press release that participation in Halloween-related activities will resume to pre-pandemic levels, with 69% of consumers planning to celebrate the holiday this year, up from 65% in 2021 and comparable to 68% in 2019.
With the spike in participation, total Halloween spending is expected to reach a record $10.6 billion, exceeding last year’s record of $10.1 billion, the group found through its research.
“Halloween is an exciting time for many families, and that enthusiasm is reflected in the number of Americans who plan to celebrate the holiday this year,” NRF President and CEO Matthew Shay said. “As consumers continue to return to pre-pandemic behaviors, retailers are prepared to meet that demand and help make this holiday a fun and memorable one.”
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