Consumer Behavior

Consumer spend up this Halloween

Photo by istock.com

October 19, 2022

A good majority of consumers, 87%, will be spending when it comes to Halloween this year, and inflation isn't hampering consumer shopping given spend is projected to be 16% higher than in 2021.

That's a prime finding from a LendingTree report that revealed high income earners will likely spend the most — $340 — compared to the average spend of $169, according to a press release on the findings.

Just over a third, 36%, admit to spending more on Halloween items and activities than they can afford. Yet 57% stated inflation is impacting Halloween spend, with 20% budgeting to spend more and shopping to compare prices.

"With the worst of the pandemic further in the rearview mirror, people are excited to get back to spending on the things they love most — particularly the things they maybe couldn't fully enjoy over the last few years," LendingTree chief credit analyst Matt Schulz said in the release. "Americans love Halloween, so I'm not at all surprised to see more of us spending money on it."