Halloween Watch: It's Not the Great Pumpkin, It's Donald Trump
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Retailers will not be spooked by consumers this Halloween, as spending is expected to reach record highs. The National Retail Federation, which conducts an annual survey with Prosper Insights & Analytics, predicts total spending for the Oct. 31 holiday will reach $8.4 billion, the highest amount in the survey’s 11-year history. Consumers are expected to spend $82.93, or 11% more than last year, the survey found.
“Retailers are preparing for the day by offering a wide variety of options in costumes, decorations and candy, while being aggressive with their promotions to capture the most out of this shopping event,” said NRF President-Chief Executive Matthew Shay in a statement.
The expected uptick is welcome news for retailers. Though early predictions for the holiday season have been merrythis week, Deloitte forecast as much as a 4% rise to more than $1 trillion in holiday salesstores have still been weighed down by a lackluster 2015.
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