Nevada may generate $118 million in Halloween revenue
Posted By Josh Mabry, Continuous News Manager - email
LAS VEGAS (FOX5) -
According to the National Retail Federation (NRF), approximately 71.5 percent of U.S. consumers will celebrate Halloween this year, up from 68.6 percent last year, and a record number for the holiday.
Spending is also expected to increase, with consumers reporting they will spend an average of $79.82 on decorations, costumes and candy, up from $72.31 reported last year.
Assuming national trends hold true for Nevada, an estimated 1.5 million Nevada residents ages 18 and over will be shopping to help their families celebrate Halloween this year, according to the NRF.
If Nevada consumers' spending on the holiday keeps pace with national averages, Nevadans will generate $118 million in Halloween-related revenue at retailers statewide. That compares to last season, when total spending was estimated at $107 million.
"Retail spending is rising in Nevada, and Halloween is always a great excuse to make a few fun purchases," said Mary Lau, president of the Retail Association of Nevada. "With Halloween spending in the state expected to reach its highest level yet, there is reason to remain optimistic about sales trends throughout the rest of the year, especially during the approaching winter holiday season."
Of those celebrating Halloween this year, it is estimated 51.4 percent will decorate their home or yard, up 1.9 percentage points from the 49.5 percent reported last year. Approximately 45.0 percent will dress in a costume, up from 43.9 percent last year.
Copyright 2012 KVVU (KVVU Broadcasting Corporation). All rights reserved.
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