Halloween Spending to Top $9.1 Billion
With more people celebrating, Americans will splurge on costumes, candy, home decor and more for a record $9.1 billion in Halloween spending this year, according to the annual survey released by the National Retail Federation and Prosper Insights & Analytics. The figure is up 8.3 percent from last year’s previous record of $8.4 billion.
“Americans are planning to spend more than ever as they gear up for Halloween,” said NRF President and CEO Matthew Shay. “Retailers are helping customers celebrate in style with a huge selection of costumes, candy and decorations to cater to ghosts and goblins of all ages.”
Consumers are expected to spend an average $86.13, up from last year’s $82.93, with 179 million Americans planning to partake in Halloween festivities, up from 171 million in 2016. Only 12.9 percent say their spending will be impacted by the economy, down from 14.1 percent last year and a peak of 32.1 percent in 2011.
According to the survey, consumers plan to spend $3.4 billion on costumes (purchased by 69 percent of Halloween shoppers), $2.7 billion on candy (95 percent), another $2.7 billion on decorations (72 percent) and $410 million on greeting cards (37 percent).
Among Halloween celebrants, 71 percent plan to hand out candy, 49 percent will decorate their home or yard, 48 percent will wear costumes, 46 percent will carve a pumpkin, 35 percent will throw or attend a party, 31 percent will take their children trick-or-treating, 23 percent will visit a haunted house and 16 percent will dress pets in costumes.
“Halloween continues to be a highly anticipated holiday for Americans, who will spend a record amount this year with increases across all purchasing categories,” Prosper Insights Principal Analyst Pam Goodfellow said. “Expect consumers to be on the lookout for early-bird promotions both online and in-store as they hunt for the best items to complete their costumes and embellish their homes.”