The answer might scare you - over $10 BILLION!
After a sharp decline in Halloween festivities due to the COVID-19 pandemic in 2020, American consumers rebounded to spend a record $10.14 billion on their spooktacular celebrations in 2021...and the expectation is that 2022 spending will soar to even more hair-raising heights.
This year, 69% of Americans expressed their intentions to take part in All Hallows' Eve celebrations, with an average expected spending amount of about $100. That equates to a projected petrifying total of $10.6 billion spent on things like costumes, candy, decorations, and greeting cards.
Here's how that spending is expected to break down:
- $3.6 billion for costumes ($1.2 billion for kids, $1.7 billion for adults, and the remaining $0.7 billion is earmarked for pet costumes) Yes, you read that right, $700 million on pet costumes.
- $3.1 billion for candy
- $3.4 billion for decorations
- $0.6 billion for greeting cards
Want to participate without terrorizing your budget? Consider starting your costume search early at thrift stores and get into the spirit of the season by hand-making costumes or decorations as you are able. You may also want to consider creeping through the post-Halloween sale section on November 1st to see what festive finds you could store away for next year!
Halloween spending facts sourced from investopedia.com, September 29, 2022.