NASHVILLE, Tenn. -
With Halloween just weeks away, retailers are gearing up for a big boost in consumer spending this year, according to a recent survey conducted by the National Retail Federation.
Out of nearly 10,000 Americans surveyed, the NRF said seven out of 10 Americans plan on celebrating Halloween this year.
The NRF estimated Halloween spending to reach $6.86 billion in 2011, up nearly $1 billion from 2010. The average consumer is expected to spend about $72, up from $66 last year.
October sales at Performance Studios in Nashville seemed to mirror what the NRF is predicting, according to co-owner Gary Broadrick.
"Business is steady," he told Nashville's News 2 "It's a nice real steady flow in and out of the store. This Halloween season is certainly going to be a boost in the arm for the economy."
Broadrick also noticed the way in which his customers are paying this year is different from previous years.
"We are doing a lot more debit cards than we are credit cards," said Broadrick. "People have the money there for spending. They're not putting it on a credit card thinking, 'I'll worry about it tomorrow.' The extra money is there for them to spend on their Halloween costume."
With consumer confidence slowly starting to rebound, shoppers this year appeared to be little more willing to spend their money to celebrate Halloween.
"I just came back from Afghanistan and I actually got a pretty good job when I came back so it's a little bit easier for me this year," said Halloween shopper Jeremiah Biehl.
Crystal Gray added, "If it's a good costume I don't care paying a little bit for it."
"Usually we spend $50 but it could be more if we find something we really like," said shopper Molly Shea.
Specialty retailers like Broadrick's hope the spending trend carries on into the Christmas holiday season.
"It's slowly starting to turn around," he said. "I think it is an indication that people aren't as leery of spending money."
While the National Retail Federation is predicting Halloween spending to be up this year, their survey said the down economy will still play some role in how Americans spend their money this Halloween.
