Trick or treat? Guess how much money we’ll spend on Halloween this year?
Once the first of October comes around, Halloween is on the minds of Americans as surely as the leaves will fall off the trees. The fun of dressing up, gorging on candy, and decorating the house is a long-running tradition that gets our minds off serious matters and into the spirit of, well, spirits!
But fun isn't free, especially this year. In fact, as per the National Retail Federation, Americans will spend a record amount of money on Halloween in 2017, to a tune of $9.1 billion! The dead must be rolling over in their graves.
From costumes, to candy, to décor and more, Americans will be shelling out substantial cash for the October 31st festivities, up from last year's still whopping total of $8.4 billion. According to NRF, 7 out of 10 people will celebrate, and money is apparently no object. Costumes can be costly, parties are bigger and better than ever, and neighbors are striving to outdo one another when it comes to lawn and home decorating. Plus, NRF says 95% of Halloween celebrants plan to purchase candy… and lots of it. Treats are better than tricks, after all. Where's the fun in Halloween if you don't cap off the night with a stomachache?
NRF notes that men plan to splurge more than women this year, spending $96 on Halloween gear, compared to women who will spend an average of $77. That's a lot of mini Snickers bars and scarecrows. Perhaps they're saving elsewhere so Halloween can be as ghoulishly good as possible.
Why the big spending? The Balance suggests, "Shoppers are willing to spend money on something if it provides a lot of value. Halloween does that. Another reason is that consumer confidence is at its highest level in 10 years. People aren't letting the uncertain state of the global economy scare them away."
This information is sure to make for a Happy Halloween for seasonal retailers who make most of their yearly money in a short bracket of time. Will you be going all-out this Halloween too? And pumpkin spice lattes don't count.
Have a safe one!
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