Humans Are Spending $12.2 BILLION on Halloween This Year. Here's What You Should Buy.
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More people are expected to celebrate Halloween this year than last, and they're expected to spend more, too.
A new study from the National Retail Federation estimates $12.2 billion being spent this year alone.
That will set a new record, beating out last year’s record of $10.6 billion.
So, have you figured out your Halloween plans yet? "Of course not. It's only, like, July after all," you say, just before looking in horror at the wall calendar and realizing we're already in October—which means you better start planning now (or just embrace the last-minute vibes).
It's safe to say that, with an eye toward public safety, celebrations for All Hallows Eve were more sparse in the past few years. But if the data that the folks at the National Retail Federation have collected is to be believed (and like Fox Mulder, I want to believe), then Halloween is fully back in business this year. And it's big business, too: the NRF estimates that Halloween spending will reach $12.2 billion this year, notably higher than previous years.
The research shows that it won't just be a matter of more money spent, but more people spending it. The NRF's estimations are made in tandem with Prosper Insights & Analytics, which surveyed 8,000 people. Their results showed that "73% of them planned to participate in Halloween-related activities this year. That’s up from 69% in 2022."
Let's take a closer look at where exactly they see this money being spent this year, and in the process, see if we can scare up any ideas for your own Halloween celebrations this season.
Halloween Costumes
Half of the participants in the aforementioned survey said they "plan to dress up for the holiday." That leads the NFR to conclude that spending on costumes "is expected to reach a record $4.1 billion, up from $3.6 billion in 2022."
Spending on children's costumes this year will top $1.4 billion, an increase of 20% over 2022. The most popular choices for kids' costumes this year? Spider-Man is #1, followed by a princess and a ghost taking third place.
As for adult costumes, spending there will hit $2 billion, an 18% jump. So, what looks can you expect to see at the office Halloween party? "More than 5.8 million adults plan to dress like a witch," their survey said. In second place, nearly 2.4 million will be sporting fangs as vampires. And no surprise after the box-office success of her big-screen debut, that 8 million people will be going to the party as some kind of Barbie.
People are expected to spend as much on their pets' costumes this year as they did last year—a staggering $700 million. Popular costumes for the very patient dogs and cats who get dressed up this year include "a pumpkin (11%), a hot dog (7%), a bat (4%), a bumblebee (3%) and a spider (3%)."
Candy & Decor
Spending on candy this year is also expected to increase, likely as consumers anticipate more tick-or-treaters at their door than years before. Spending is expected to hit $3.6 billion this year, up from $3.1 billion in 2022. On the flip side, if you're thinking about how much candy your kid will be getting instead of how much you'll be buying, make sure you have a sturdy treat bag to carry it all—and don't worry, we already figured out what you can do with the leftovers.
Decor is what's seen the most interesting developments over the last few years. The NRF notes that Halloween decorations "grew in popularity during the pandemic." After all, remember the big skeleton craze? But rather than seeing a decrease in spending as consumers turned back to costumes and candy, the idea of getting the house ready for Halloween is expected to "continue to resonate with consumers." They're looking at an estimated $3.9 billion for decor, so expect to see a wide array of lights, animatronics, inflatables, and good old-fashioned jack-o-lanterns in your travels.
The abundantly clear thing is that people are ready for Halloween this year and prepared to go big. So, we'll ask again: have you figured out your Halloween plans yet?
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