Consumer Behavior
Inflation curbing Halloween spend though some consumers will splurge
October 18, 2024
Over half, 59%, of past Halloween spenders won't be spending this Halloween due to inflation, according to a Lending Tree survey.
The most likely shopper to be cutting spending are Gen Z consumers, according to a press release on the study's findings. The survey polled more than 2,000 U.S. consumers.
Additional findings include:
- The average amount spent on Halloween is expected to be $172, up from $162 in 2023.
- Almost half (47%) of Halloween spenders plan to splurge this year, mainly on costumes (17%), decorations (16%) or themed activities (14%). Overall, they'll spend $172 on average (up from $162 in 2023), and 33% expect to spend more this year than last.
- Most stay traditional with their Halloween purchases. Among all Americans, the top items to purchase are candy (59%), outside decorations (23%) and kids' costumes (22%). Some Halloween spenders plan to celebrate with spooky movies, as 52% say they may subscribe to a new streaming service this year for holiday content.
"It never surprises me to hear people cutting back on anything because of inflation," Matt Schulz, LendingTree chief credit analyst, said in the release. "Life is so much more expensive than just a few years ago, and it has left many Americans squeezed to the breaking point. When that happens, sacrifices have to be made, and sometimes that means dialing back on things you love, like Halloween spending."
LendingTree commissioned QuestionPro to conduct the online survey of 2,040 U.S. consumers ages 18 to 78 from Sept. 3 to 5, 2024.
