Halloween: Bigger than ever

WASHINGTON (NBC News) – Consumers are on target to spend $7.4 billion on everything from candy and costumes to decorations this year, making Halloween bigger than ever.

“It is about creating experience, and I think that is why it’s been able to propel itself into this giant industry that is actually the second-fastest growing holiday for consumer spending,” says marketing consultant Elizabeth Kraus.

From entertaining to home decor, high end retailers are selling Halloween inspired goods to get a bite of some of the spooktacular sales.

According to the National Retail Federation, 43 percent of shoppers start their Halloween shopping in the first two weeks of October, with just under 25-percent waiting until the last minute.

Regardless of when, everyone is doling out the cash. Since 2005, spending on Halloween is up 55 percent.

 

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