The Economics of Halloween
October 27th, 2008
By Colleen Rothe
The economy is in crisis, but that doesn’t mean that the candy for Halloween is growing moldy on the shelves of retailers across America. Nor does it mean that every merry mask, goth make-up packet, or cute costume is left forlorn on the market’s hangers, either.
In fact, a bit of escape in the form of Halloween celebrations seems to have actually increased. This year, candy sales are expected to top $2.26 billion, according to the National Confectioners Association. That's up from $2.2 billion last year. The additional billions are not from the financial bail out plan – but one does wonder. Again, those billions are just for candy. In total, consumers are expected to spend a record $5.07 billion on costumes, cards, candy and decorations, up from $4.96 billion a year ago, according to the National Retail Federation. The average person plans to spend $64.82 this year on Halloween merchandise – about $5 more than last year and $20 more than five years ago.
Seriously, last year around my town, there was scant a Halloween decoration to be found. This year, it seems even the Halloween Grinches are getting in the spirit. Old sheet ghosts dance from many fall-colored trees, skeleton cutouts, hay-stuffed scarecrows, and orange lights adorn front entrances all over the community. If I start hearing the utterances of zombies at night, I’m going to stop drinking the water. But, tricks aside, the spooky holiday spirit has not been dashed by layoffs, high food prices, and Wall Street jitters. It seems to have heightened the need for fun fright.
When I informally polled the moms at the bus stops, the dads at the football field, and my coworkers, they all said the same thing – it’s not hugely expensive. Plus, Halloween seems to bring families together without the implied stress of Thanksgiving or Christmas.
A friend of mine, a grocery store manager, said she did notice that items like non-chocolate candy were selling faster than their cocoa bean counterparts. She believes either folks are watching their figures more or it seems less frivolous to buy a giant bag of Blow Pops as opposed to a mixed bag of Hershey treats.
The local pumpkin patch was packed this past week, making pickin’s slim for jack-o-latern artists seeking prime resources. The nursery manager said that at $.39 a pound, it was some cheap entertainment and family time (are we noticing a trend here?). The local girl scouts were handing out roasted pumpkin seed recipes, too. The pumpkin carving equals two afternoons of family time: one to pick the pumpkins and the next to carve and roast the seeds. All for under $20. Not bad.
But if you still need to cut corners at Halloween, here are some quick tips to save money:
1) Hit your local thrift store for costume stuff – everything from actually produced superhero costumes to accessories to create your own can be found for up to 60 percent less than at the national retailers. Be creative. Don’t just buy something off the shelf if you can. A tradition in our family is to pick a character out of a favorite book – it seems to net easier costumes.
2) Create a treasure box of costume items. We never throw any Halloween costume stuff away (unless it’s been outgrown or outworn). We purchase sale items on Nov. 1 to put in the Halloween box for the next year, too. This inexpensively adds to the collection. For four years now, the whole family has started their costumes from this box. Leaving extra money to spend on perhaps make-up or treats.
3) Don’t let your children play with costumes before their actual neighborhood, school, or Halloween trick-or-treating event. They will get bored and there will be whining to be had. No costume wearing until the actual event.
4) Just like any other event, set a budget. Pick a figure you can really afford and stick to it. I allotted $25 for treats. I ended up catching some sales and only spent $17.55. I also hid it away so no one was tempted. Nothing blows a Halloween budget faster than eating all the treats before Oct. 31.
5) Another treat saver is to buy candy in bulk. Go shopping at Costco with a neighbor and split the bounty.
6) Make your decorations, if you can. Paper cut outs of ghoulish silhouettes, stuffed scarecrows, or headless beings – anything. Also, shy away from the blow-up air lawn decorations. They are pricey and cost you extra dollars on your energy bill. Being spooky and homemade is much more authentic.
No matter how frightful the economy is, you don’t have to spend a spooky amount this Halloween to have fun. Especially, given that this year you seemingly will have some company.
October 27th, 2008 at 12:45 PM