Consumers Expected to Spend $5 Billion on Halloween Due to Increase in Celebrations
Washington, D.C., From costumes to candy, more people of all ages are expected to get into the Halloween spirit this year. According to the National Retail Federation’s Consumer Intentions and Actions Survey conducted by BIGresearch, consumers are expected to spend $4.96 billion this Halloween, up significantly from just $3.29 billion a year ago.
The spending increase is largely due to a surge in celebrating. According to the survey, nearly two-thirds (63.8%) of consumers will celebrate Halloween this year, a noticeable rise over the 52.5% who celebrated in 2005. Per-person spending is also increasing: the average consumer plans to spend $59.06 on Halloween, compared to $48.48 last year.
Maintaining its spot as the second-biggest decorating holiday of the year after Christmas, decorations continue to be a strong category as 67.0% of consumers plan to purchase Halloween decor. Additionally, most people (95.7%) will be scooping up plenty of candy, with the average consumer spending $18.72 in that category. Costumes are also expected to increase in popularity this year with consumers spending $21.57 to dress up.
Though growing, Halloween remains the sixth-largest spending holiday after: Winter holidays ($457.4 billion estimated), Valentine's Day ($13.70 billion), Easter ($12.63 billion), Mother's Day ($13.80 billion) and Father's Day ($9.01 billion). Since it is not a gift-giving holiday or an apparel holiday, it ranks lower than other annual holidays in terms of spending.