Consumer Behavior

Halloween spending will be a record-setter

Adobe Stock.

September 21, 2023

Halloween spending is projected to hit a record $12.2 billion, exceeding pre-pandemic levels, according to a National Retail Federation survey conducted by Prosper Insight & Analytics.

Last year's record spend was $10.6 billion, according to a press release on the survey.

The survey revealed a "record number" of consumers, 73%, plan to participate in Halloween activities this year — up from 69% last year.

"More Americans than ever will be reaching into their wallets and spending a record amount of money to celebrate Halloween this year," NRF President and CEO Matthew Shay said in the release. "Consumers will be shopping early for festive décor and other related items and retailers are prepared with the inventory to help customers and their families take part in this popular and fun tradition."

Top ways consumers are planning to celebrate are handing out candy (68%), decorating their home or yard (53%), or dressing in costume (50%). However, in a return to pre-pandemic norms, more consumers also plan to throw or attend a party (32%) or take their children trick-or-treating (28%).

Per-person spending is also up as consumers plan to spend a record $108.24 each, up from the previous record of $102.74 in 2021.

Candy spending is expected to reach $3.6 billion, up from $3.1 billion last year. Spending on Halloween greeting cards is projected to be $500 million, down slightly from $600 million in 2022 but above pre-pandemic levels.

The news comes on a the heels of another NRF statement that while the economy is still growing, its momentum is slowing.

"The U.S. economy continues to expand but recent data is signaling a slowdown in its momentum," NRF Chief Economist Kleinhenz stated in a press release in early September. "The economy is slowing but not halting."