Halloween to be frightening for retailers

Back-to-school sales were weak for U.S. retailers, according to most statistics, and many are now predicting lackluster holiday sales in November and December. The only significant retail event between the two periods is Halloween, and it is looking scary for store owners.

According to the National Retail Federation, "consumers are expected to spend an average of $56.31 on Halloween, down from $66.54." The study of retailers also says, "Nearly one in three (29.6 percent) consumers say the state of the U.S. economy will impact their Halloween spending plans. Of those who will be affected, the largest majority (88.0 percent) plan to spend less overall." Sales for the eve of All Saint's' Day are expected to total $4.75 billion.