
The stock market slide has spooked plenty of Americans, but not enough to scare them away from shopping for the nation's spookiest holiday.
In fact, according to the National Retail Federation, two of three Americans plan to celebrate Halloween, the biggest turnout since the retail trade group began tracking the holiday in 2001.
Things are even better in Pittsburgh.
A survey by Visa Inc. shows that among those who celebrate Halloween, a Pittsburgh resident on average plans to spend $51 on candy and decorations, 9 percent more than consumers nationally who plan to spend $47.
"Even in these difficult economic times, depriving our children, and our neighbors' children, of Halloween trick-or-treating is not something Pittsburgh residents seem willing to bear," said Jason Alderman, director of Financial Education at Visa.
Mr. Alderman has a theory about why Pittsburgh remains a Halloween haven.
"I lived in Pittsburgh for a while; Pittsburgh is a much more family-oriented area," he said. "There are a lot of families in Pittsburgh with kids. It's likely to have more folks who want to celebrate Halloween because it's a more kid-oriented holiday.
"The reason I think people are willing to spend on Halloween is even at $51, we're not talking about somebody's entire paycheck," he said. The amount is relatively modest compared with most budget items, he added.
" I think for kids [Halloween] is right up there with their birthdays and Christmas. And I think parents see that and don't want to disappoint them."
That said, Mr. Alderman still views the holiday as what he calls a "teachable moment." "It's just a great opportunity for them to help understand the process of budgeting," he said.
He recommends that parents sit with their children and discuss how much the family can spend for costumes, candy and decorations and the importance of sticking to the budget.
"We're trying to take these kinds of milestones and shine a spotlight on the wise management of money," he said.
The Pittsburgh survey results also found:
Men estimate they will spend more than women on candy and decorations.
Area residents under 45 years old estimate they will buy $53 worth of candy and decorations compared with a lower $49 for those 45 and over.
Parents with children 18 or under living at home are planning on spending an average of $59 on Halloween candy and decorations, compared with $46 for anyone without children living at home.
Halloween arrives just in time to provide an escape from the grim headlines and ghastly economic upheaval, said Ellen Davis, vice president of the Washington, D.C.-based trade group.
"The fact is that everybody needs a break," Ms. Davis said.
While a relatively minor holiday based on retail dollars spent (it ranks No. 8 below Christmas, Mother's Day and Valentine's Day, to name a few), the Halloween business has grown steadily for the past five years.
Halloween spending this year is expected to reach $5.77 billion, up from the $3.12 billion in 2003, according to the federation. A consumer on average plans to spend $66.54 on Halloween goods this year, up from $64.82 in 2007.
Halloween falls on a Friday this year, a good omen for party hosting. And retailers are doing all they can to stretch the season by prominently displaying Halloween-themed products online and in stores.
Williams-Sonoma is offering a pumpkin-carving kit for $29.95 and personalized skeleton aprons for parents and kids from $18 to $24. Pottery Barn has $19 skull votive candleholders and $49 spider web table runners.
Not to be outdone, PetSmart operates "Howl-o-Ween Central," where dog and cat owners can buy Halloween costumes and toys for their furry friends.
Halloween has turned into a holiday that "stretches far beyond candy," said Mike Mallett, CEO of Corporate Research International, a Findlay, Ohio-based market research and mystery shopping firm. The firm found that three of four consumers plan to spend about the same or more than they did last year on Halloween, even as consumer spending industrywide is in retreat.
"I think consumers are looking for a chance to relax and enjoy the holiday without having to worry about the economy," Mr. Mallett said. "Coupled with the fact that Halloween bumps up against a weekend this year, it's sure to mean a big boost for retailers."
The retail federation polled consumers Sept. 2-9, and Corporate Research conducted its survey from Sept. 30 to Oct. 3.
