Americans Are Expected to Spend Around $86 on Halloween This Year
The National Retail Federation predicts a near-recording $2.6 billion will be spent on Halloween candy alone this fall.
Calling all trick-or-treaters! Get ready to fill your pumpkin pail with candy bars galore. The National Retail Federation estimates that shoppers will spend an average of $25 on Halloween candy this year and an estimated $86.27 in total, including costumes, decorations, and cards in addition to sweet treats. According to NRF's annual study, Halloween spending is expected to reach $8.8 billion dollars, which is actually down from the $9 billion predicted in 2018 and a record $9.1 spending in 2017. However, spending continues to set near-record amounts, which the NRF attributes to social media influencers and platforms such as Pinterest and Instagram where users can draw inspiration for their holiday celebrations.
"Spending hasn't changed much over the past few years, but we are seeing a noticeable increase in consumers whose Halloween purchases are inspired by their friends, neighbors and even celebrities on social media," said Matthew Shay, the retail federation's president and CEO, in a statement according to USA Today.
Prosper Insights & Analytics conducted the study and survey 7,400 people; 68% of the group plans to celebrate Halloween this year. Additionally, 69% of consumers expect to hand out candy, 49% of consumers plan to decorate their home, and 47% will dress in costumes. Other consumers will celebrate Halloween by carving a pumpkin, throwing or attending a Halloween party, taking children trick-or-treating, and visiting a haunted house.
If you're wondering whether or not to get a head start on Halloween shopping now, the NRF says that's not such a bad idea; in fact, 37% of people surveyed anticipated starting their Halloween shopping before October. Get ready to stock up on Halloween candy and go all out with leaf garland, carved pumpkins, and even pet costumes—now is the time to get in the spooky spirit.