Inflation is about 2.2% a year, but it’s faster for things like college tuition, health care and — Halloween spending?
That year, the NRF put out its statistics on Halloween spending on the day of the holiday, reflecting actual sales. In subsquent years, it took on a survey format that polled spenders’ intentions.
Forecasting Halloween Spending
This enabled earlier release of the statistics chronicling that the number of people celebrating the holiday has steadily risen.
This year’s survey includes a finding that one third of respondents intended to begin shopping for Halloween in September.
Certainly, starting earlier would allow more transactions to take place, but people are also feeling like spending more due to consumer confidence reaching a 13-and-a-half-year high.
Holiday for Adults
Another factor that keeps getting trumpeted every year: Halloween has gone from being a child’s holiday to one that adults increasingly suit up for.
This year, 48% of adults surveyed plan to wear costumes this year, which is the highest proportion yet. Overall, 69% of households surveyed said they are buying costumes, for a total of $3.4 billion in spending.
Interestingly, men spend more on average for their Halloween costumes, $96, compared to women spending just $77 on average.
More Per Capita
Overall Halloween spending is averaging $86.13 per household, up from $82.93 last year and about $41.77 in 2003.
This year, 179 million Americans say they plan to participate in Halloween festivities, up from 171 million in 2016.
While it’s entirely possible that the very existence of Halloween statistics is contributing to the increase in spending, the numbers are only chronicling a phenomenon that already started before anyone began making annual tallies.
Readers, what are your plans for Halloween this year? How much more are you spending compared to 2016?