2022 retailers face 5% drop in Halloween spending due to inflation, higher unemployment, and reduced consumer spending.
Retailers are facing difficulties in 2022 due to rising operational costs and decreased consumer spending, attributed to inflation and higher unemployment. The National Retail Federation forecasts a 5% drop in Halloween spending, particularly affecting greeting card and costume sales. Lower-income households are particularly impacted, leading to reduced purchases at stores like Michaels and At Home. The rise in retail bankruptcies and reduced private equity support further complicates the industry’s challenges.
October 12, 2024
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