IBISWorld: Halloween sales to reach $7.29 billion

New York -- Total Halloween sales are expected to grow 3% to total $7.29 billion in 2014, due to improving economic conditions and employment levels. According to a new study from market research firm IBISWorld Inc., costume sales are expected to rise 6% to $2.76 billion, spurred by more theme parties and social media photo sharing.



Candy is the second-largest expenditure among Halloween shoppers. However, fewer consumers will hand out candy this year, and many are opting for healthier alternatives, decreasing the total number of candy shoppers in 2014. Nevertheless, those opting to purchase candy are expected to spend record highs this year. As a result, candy sales are anticipated to rise 4% in 2014 to $2.34 billion.



With fewer consumers at home giving out candy, the number of shoppers purchasing home and yard decorations is consequently forecast to decline this season. Improved disposable income, however, is expected to increase the amount spent per customer and boost sales 0.4% to $1.85 billion. The prevalence of social networking sites that highlight unique decorating ideas, like Pinterest, will encourage consumers to purchase a wider array of decorations.



Unlike other Halloween items, greeting card sales are expected to decrease 4% during 2014 to $0.34 billion. Digital alternatives to physical cards, such as e-cards and social media posts, are contributing to the decline.