Americans will cash out $7.4 billion on Halloween products in 2014, according to the National Retail Federation, of which $2.8 billion will be spent on costumes, like the Batman character and a witch or animal, as the most popular. Top three children’s costumes for 2014 are: princess, an animal, and spider man.
Americans will further boost the economy by cashing out $350 million on costumes for their pets. Most of the 23 million pets you see walking the streets and at your door for “Trick or Treats” on Halloween night will be dressed as pumpkins, hot dogs and devils!
Dressing up annually on Halloween night is substantially growing in popularity, as 78 percent of Americans plan on dressing up this year, with 20 percent making costumes by themselves.
Adults will spend $1.4 billion on their costumes, and they will spend another $1.1 billion on their children’s costumes.
Young adults 18-24 will rely on social media for costume inspiration, including 21 percent using Pinterest.
And, 51 percent of these young adult consumers will carve a “Great Pumpkin” like Charlie Brown.
In 2013, 158 million people celebrated Halloween in the United States. Moreover, this amount of “The Great Pumpkin” celebration will rise to 162 million in 2014. Average Halloween expenditures will come to $87 for younger adults compared to $77.52 in total (including children).
Nearly 47 percent of Americans are going to decorate their home or yard. While, 33.4 percent or 51 million Americans will throw or attend a Halloween costume party to celebrate the Autumn fun.
In addition, 71 percent of Americans will cash out $2.2 billion on their Halloween stock supply and plans to hand out candy to children ringing doorbells of millions of neighborhood homes, shouting “trick or treats!”
Finally, a whooping 33 million Americans will get into the Halloween spirit by visiting a Haunted House!
Boo! Hope I didn’t scare you.
We are all deep inside still kids in the kindergarten enjoying “The Great Pumpkin Patch,” Charlie Brown!
Happy Halloween America!
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Oliver McGee is professor of mechanical engineering at Howard University. He is an aerospace, mechanical, and civil engineer, and author of six books on Amazon. He is former United States deputy assistant secretary of transportation for technology policy (1999-2001) in the Clinton Administration, and former senior policy adviser in the Clinton White House Office of Science and Technology Policy (1997-1999).
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