With less than three months before the annual celebration of all things ghoulish and creepy, many Halloween festivities have either been canceled or will be dramatically altered out of fear of the nation’s biggest terror: COVID-19.
The likely results: A drop in orders for trick-or-treat candies and Halloween costumes and the loss of big crowds and hefty revenues at theme parks that host Halloween-themed events.
In short, another financial blow to an economy already weakened by the business closures and double-digit unemployment rates caused by the pandemic.
Halloween is “the holiday that comes second after Christmas as far as spending goes,” said Tom Arnold, a professor of finance at the Robins School of Business at the University of Richmond. “I don’t think it would be wrong to predict that spending gets cut in half, at a minimum.”
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