Great Ghosts! Near-Record Halloween Spending Predicted
Americans are expected to shell out $8.8 billion on the spooky holiday.
Sep 27, 2019
WASHINGTON—U.S. consumers are looking to social media for Halloween costume and decoration ideas as spending is expected to reach a near-record amount this year, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics.
Shoppers say they will spend an average of $86.27, down just slightly from last year’s record $86.79. That works out to $8.8 billion in total spending, down from last year’s $9 billion. This year’s total is expected to be the third-highest in the survey’s 15-year history, after the record $9.1 billion set in 2017. A total of 172 million people (68%) plan to celebrate, down from 175 million last year.
“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 NRF President and CEO Matthew Shay, in a press release. “Retailers expect to have another strong Halloween season and have stocked up on candy, decorations and the season’s most popular costumes.”
According to the survey, consumers plan to spend $3.2 billion on costumes (purchased by 67% of Halloween shoppers), $2.6 billion on candy (95%), $2.7 billion on decorations (72%) and $390 million on greeting cards (34%).
To buy Halloween merchandise, 42% of shoppers will go to a discount store, 36% to a specialty Halloween or costume store, 25% will shop online, another 25% are expected to go to a grocery store and 23% will visit a department store.
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