NEW YORK (PIX11) – Halloween is a big deal in the Big Apple. But it’s predicted people are spending less on the holiday this year.
“I have noticed it’s a little slower,” Tony Bianchi of Halloween Adventure said Tuesday.
The costume and prop store counts on the holiday for 60 percent of its business.
The National Retail Federation estimated national spending on Halloween this year will be down about a billion dollars. It’s attributed to concerns about the economy and the government shutdown. And according to Bianchi, SuperStorm Sandy is impacting this Halloween locally as well.
“Because of the hurricane last year, people are sitting on costumes they didn’t wear and decorations they didn’t use,” Bianchi said.
Another financial research group IBISWorld found Halloween spending will be down but the outlook wasn’t as bad. Slower growth was just predicted.
New Yorkers looking to be more frugal are getting creative. “I’m trying to make the kids costumes this year so I don’t have to spend money on them,” Kate Walker said.