MILWAUKEE — With a big pullback evident in consumer spending, candymakers were a bit spooked about this year’s Halloween season.
They introduced fewer new Halloween-themed products for their third-biggest selling season of the year, but analysts say the companies have nothing to worry about: They expect this year’s Halloween to be bigger than ever as people seek a break from the downright scary economy and stressful campaign season.
Candymakers, judging by the fewer debuts of Halloween candy, weren’t sure how the holiday would go because of the economy, said Marcia Mogelonsky, analyst with Mintel International in Chicago. But as the economic situation worsens and worries mount about investments and job stability, Halloween seems to be getting stronger.
“Halloween for grown-ups is a chance to let off some steam, and for kids it’s a chance for grown-ups to prove to kids the world is not falling apart. We still have Halloween,” she said.
Research firm IBISWorld Inc. predicts that total retail spending will be up 5 percent this year to $5.77 billion, with one-third of it on candy. The two reasons? Higher prices as well as a need to escape from reality, IBIS says.
