Just Don't Wear a Dick Fuld Mask

While a real horror story is playing out on Wall Street, a more playful one is providing one of the few bright spots in consumer spending.

Sales of Halloween costumes are expected to rise 14 percent, to $5.77 billion, according to a National Retail Federation survey conducted by BIGresearch. This year, the average person plans to spend $66.54 on Halloween, up from $64.82 one year ago.

"This is the same type of pattern we saw in 2002 when the economy was in a rough spot and consumers were cutting back on spending in other areas," says Kathy Grannis, a spokeswoman for the National Retail Federation. "The notion of doom and gloom can really only last so long in consumers' minds before they go out and invest in some fun."

That is an exception to the belt-tightening that led to weak back-to-school sales and is expected to produce a bleak holiday shopping season. Sales for the holiday season are predicted to grow by just 1.5 percent.

According to Grannis, Halloween holiday has two big advantages this year: It's a relatively cheap source of fun and escapism, but even more important, it's one of the few holidays where people spend on themselves rather than others. And let's face it, right now nobody wants to spend their precious last dollars on presents for other people.

The NRF credits consumer uncertainty and overall stress as a major reason why people will be so eager this year to escape real life for a night.

Bob Thompson, a professor of popular culture at the S.I. Newhouse School of Public Communications at Syracuse University, says that while we should be cautious about ascribing too much significance to current events - Halloween has been growing in popularity over the last 10 years - there is something to be said for free-for-all celebrations like Halloween functioning as release and catharsis for a society under stress.

"Lately, Halloween has been being reclaimed as a holiday celebrated by adults," Thompson says. "I think this year that the state of the stock market, and the economy, and a hotly contested presidential election taking place on November 4 all make October 31 an even riper time to let loose and have a party."

According to the NRF's Halloween Consumer Intentions and Actions Survey, more consumers plan to celebrate Halloween this year that last, up to about 65 percent from 59 percent last year.

Thompson says that Halloween wasn't always so "kid-centric." That kiddie approach to the holiday took hold in the 1950s and 1960s, but during the 19th Century and earlier, it was actually a raucous and very adult affair that functioned as an opportunity to temporarily suspend order, violate borders, and escape from reality.

Todd Kenig, the chief executive of Ricky's NYC, a major New York area seller of Halloween merchandise, says that Halloween dress-up is always a popular and inexpensive way to blow off steam. But he expects that recent economic and political events will make this year particularly wild.

"New Yorkers are very 'now,' they try to do things that are creative and based off current events," Kenig says.

Last October, according to Kenig, rehab-related costumes featuring Amy WInehouse, Lindsay Lohan, and Britney Spears were some of the store's biggest sellers. Men opted for muscle-man costumes based around the summer blockbuster 300.

This is sure to be even heavier on the social commentary. Kenig says that political masks are always hot sellers in election cycles, and in addition to the standard Hillary and Bill Clinton, John McCain, and Barack Obama masks, Ricky's NYC has put together a Sarah Palin costume that he expects will be one of the store's hottest items. Ricky's has also stocked his and hers "Client 9" and "Emperor's Club" jumpsuits playing off the Eliot Spitzer sex scandal.

For those looking to make a cynical commentary on the economic meltdown (and subsequent government bailout), Kennig recommends a pig's nose paired with a business suit to create a "greedy banker" costume.

For the more pessimistic, Ricky's NYC sells a barrel with shoulder straps.

Liz Gunnison

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