Who Doesn't Love Halloween?
Who doesn’t love Halloween? I do. We always have a “killer” Halloween party in our office, and it always amazes me how creative our employees are when it comes to their costumes. Of course, it helps that that we dangle $$$ and award prizes to the most creative, scariest, and best costume each year. You can see pictures of years and years of our great office Halloween parties on our website, www.ucfunding.com
This made me think about Halloween as an economic event and led me to do some research to answer this question: how much do Americans spend each year on Halloween? And the answer really surprised me!
According to several sources including the National Retail Federation or “NRF” and others, American consumers are due to spend a record amount once again on Halloween as participation in the holiday is projected to surpass pre-pandemic levels.
The total: $12.2 billion, and that’s a lot of Snickers bars, isn’t it? I read an online NFR Press Release[1]report that noted that a “Prosper Insights & Analytics surveyed about 8,000 people and found that 73% of them said they plan to participate in Halloween-related activities this year. That is up from 69% in 2022.”
If you are curious, here is where some of the spending on Halloween happens:
1.?????? $3.9 billion on Halloween decorations
2.????? $3.6 billion on candy
3.???? $4.1 billion on costumes
4.???? $500 million on Halloween cards
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The NRF Press Release said that average spending per person on Halloween was expected to be $108.24 each, up about $8 from 2022.
I also learned that the most common ways Americans celebrate are to hand out candy 68%, decorate their home or yard 53% or dress in costume 50%. In addition, 32% are going to attend a party but only 28% are planning on taking their kids to trick or treat.
Finally, what do you think are the most common Halloween costumes for kids, pets, and adults? Your wish has been granted as the NRF Press Release answered this question in table form and I reproduced it below. ? NFR, 2023.
I was amazed that Wednesday Addams was even on the list for children, as I remember watching the Addams Family on television as a kid. I will stop now as I am dating myself.
Get out and dress up and be safe and well.
[1] https://nrf.com/media-center/press-releases/halloween-spending-reach-record-122-billion-participation-exceeds-pre
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