Report: Higher Prices Haunt Halloween Shoppers
New York City Halloween shopping is taking a scary turn as candy and costume-accessories prices spiked compared to last year, according to The Nielsen Co.
Costume hair coloring is the highest price culprit, as products average $4.42, an increase of $2.46, or 126% compared to a year ago.
Candy sales also increased, with average candy sales hitting $3.59. Although prices were up only $0.10, this represents a 2.9% increase.
Chocolate-candy sales however, hit an average of $4.22, up $0.17 from last year. This is an increase of 4.2% compared to 2007.
These increases are not expected to scare people away from giving out candy this Halloween. In fact, between early October and Halloween, weekly candy sales more than double. Sales are expected to reach $436 million, with the most candy sales occurring on Oct. 28.
“For many consumers, the most frightening part of Halloween may be higher prices” said Tom Pirovano, director of industry insights, The Nielsen Co. “That said, few parents will deny their children the fun of dressing up and trick-or-treating, so we expect sales to remain strong.”
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CEA: Consumer electronics top holiday wish lists
ARLINGTON, Va. Consumer electronics products continue to top the holiday wish lists of adults and teens, resulting in 3.5% projected growth in fourth quarter industry shipments over last year, according to new research released today by the Consumer Electronics Association.
Consumer electronics comprise four of the top 10 items on adults’ holiday gift wish lists, with computers coming in second behind peace and happiness. Televisions, video game systems and cell phones also made the top 10. Nearly 80% of adults expressed interest in receiving a consumer electronics product as a gift this holiday season, an increase of four points from last year. Meanwhile, 84% of teens want to receive a CE product this year, up eight percent from 2007. The most popular CE products for teens this holiday are computers, video game consoles, portable mp3 players and cell phones.
“There remains a robust desire for consumer electronics and this category continues to be the bright light during these dark economic times,” said Tim Herbert, CEA’s senior director of market research. “CE devices have become integrated into the everyday lives of consumers. No matter what your current economic situation, you can find a CE product to fit any holiday budget.”
Consumers plan on spending a total of $1,437 this holiday season on everything from gifts to food to decorations. That number is down nearly $200 from last year as consumers cite cost of living increases and economic concerns as reasons for cutting back. While consumers are planning to spend less this holiday season, they’re actually preparing to spend more on consumer electronics. Twenty-eight percent of the total holiday budget is being allocated for CE purchases, an increase of six percent from last holiday.