According to data gathered by the National Retail Federation, Halloween is set to be a major event across the USA this year. Spooky spending will soar like a witch on a broom as millions of Americans plan to spend their hard-earned dollars on a variety of tricks and treats.
The results from this year’s survey show that adults planned to spend a combined $1.38 billion dollars on their own costumes and the slightly lower amount of $1.06 billion dollars on costumes for children. In addition to this, data shows that adults in America planned to spend $0.35 billion dollars on costumes for pets. On average, all of this equates to each adult spending $43.43 on costumes alone this Halloween. When you start to add in additional expenditures, including the candy (of course) and decorations, the average spend per adult rises to $77.52 per adult, which is a whopping $7.4 billion dollars in total across the USA.
It’s no surprise that retailers across the country experience a boost around this particular holiday season, but with 71.1% of American adults handing out candy, the retailers and candy manufacturers alike are in for a treat this Halloween. However, whilst the Halloween season provides a temporary boost to the economy, 81.2% of adults said they wouldn't be turned off by the current state of the US economy when it comes to planning for Halloween. Take a look at our graph which shows just how many American adults will be celebrating this spooky occasion.
However you spend your fright night this year, we here at Expert Market wish you a safe and Happy Halloween!