This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

5 Halloween Myths That Cost Everyone Money

PORTLAND, Ore. ( TheStreet) -- Some of Halloween's spooky mythology only helps the spirit of the holiday. When those myths and legends start taking cash out of the till, however, it's time to end the tricks for the sake of saving the treats.

If you want to repeat "Bloody Mary" into a mirror 13 times to see if a ghost appears, go ahead. Want to say the word "Candyman" five times into that same mirror and see if Tony Todd or Chicago's Cabrini-Green housing projects reappear? Knock yourself out. Want to wake up Michael Keaton by chanting "Beetlejuice" three times? It's your holiday and you can annoy people with repetition all you'd like.

You'll find, as with just about every Halloween myth, that repeating something doesn't in any way make it so.

Right now, Halloween doesn't really need any more scary rumors or bad press. The National Retail Federation, which represents the nation's retailer, found that 158 million consumers say they plan to celebrate Halloween this year. That's down from 170 million last year and is indicative of just how tight-fisted consumers have become in the current economy. In total, Halloween shopper plan to spend about $75 each on Halloween, down from an average of nearly $80 per shopper in 2012.

Though that NRF Halloween spending estimate is still 54.7% higher than in 2005, a quarter of U.S. consumers (25.2%) say the state of the economy will affect their Halloween spending plans. Nearly nine in 10 (86.1%) will spend less overall, up slightly from 83.5% last year. Additionally, 32.7% will buy less candy and 18.1% will make a costume instead of buying one. That already bodes poorly for retailers from Wal-Mart (WMT) and Target (TGT) to Kroger (KR) and Safeway (SFY) .

At a time the balance of Halloween spending is shifting toward adults -- with the $1.2 billion U.S. consumers plan to spend on adult costumes overshadowing the $1 billion they'll spend on kids' outfits -- there is still a whole lot of spending to be done. The NRF anticipates that spooked shoppers will still spend upward of $6 billion this Halloween.

They just don't need to spend a whole lot more than that, nor do retailers need them completely spooked off. We looked at some of the more potent Halloween myths out there and found five that are costly to shoppers and stores alike:

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $124.43 0.00%
FB $82.22 0.00%
GOOG $548.00 0.00%
TSLA $188.77 0.00%
YHOO $44.44 0.00%

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs