Shoppers planned to slightly scale back their spending this Halloween season, but the holiday was expected to remain an $8.8 billion treat for retailers, according to the National Retail Federation.
The federation’s annual Halloween spending survey, conducted by Prosper Insight & Analytics, revealed that 68% of respondents planned to celebrate the holiday this year. The survey projected national spending of $8.8 billion for Halloween — or an average of $86.27 per person. Those figures are down slightly from last year’s marks of $9 billion total and $86.79 per person.
When it comes to conjuring costume inspiration, social media is increasingly influential, according to the federation.
“(W)e are seeing a noticeable increase in consumers whose Halloween purchases are inspired by their friends, neighbors and even celebrities on social media,” NRF President and CEO Matthew Shay said in a release.
Pinterest remains the top social media source of costume inspiration, but celebrants are increasingly looking to Instagram for ideas.