Frankenstorm Expected to Impact Halloween Sales
- Sales Tax News
- Oct 29, 2012 | Gail Cole
Until Hurricane Sandy appeared on the scene, Halloween spending was expected to reach record levels this year.
IBISWorld has anticipated the nation will spend some $2.8 billion on costumes, $2.3 billion on candy, and $2.3 on decorations. Throw in money for spooky cards, and the total could reach $8 billion.
However, Hurricane Sandy, which has been nicknamed the "Frankenstorm," is now expected to impact Halloween spending in affected areas. According to Forbes, while the precise impact of the storm is "impossible to predict," it seems likely that "[s]hopping for a killer costume pales in comparison to readying for a killer storm."
Still, the National Retail Federation has predicted that seven out of ten Americans will celebrate Halloween this year. A newspaper in Salem, Massachusetts, home to the Salem Witch Museum, reports that early Halloween festivities were "undaunted by rain" this past weekend. Whether or not that type of enthusiasm can persevere in the coming days remains to be seen.