Halloween Spending To Reach $10.6B

Halloween Spending To Reach $10.6B

Halloween Spending To Reach $10.6B
Halloween Spending To Reach $10.6B
Retail Bum

Retail Bum

Retail Bum

Retail Bum

The 2022 Halloween festivities are expected to be celebrated in full fanfare, with 69% of consumers planning to celebrate the holiday this year — up from 65% last year and slightly higher than in 2019.

According to the National Retail Federation’s survey of nearly 8,300 consumers, a record $10.6 billion will be spent on clothes, candy, and decor this year, exceeding the $10.1 billion consumers spent last year.

On average, consumers plan to spend $100 on buying candy, decor, cards and costumes, which is on par with the $103 they spent last year.

Halloween costumes, in particular, will account for the lion’s share of spend, with consumers planning to spend $2.9 billion this year — the highest amount since 2019. In addition, spending on pet costumes is also expected to set a new record at $710 million.

More consumers are turning to social media channels for costume inspirations, with 36% using online channels and a quarter looking for new ideas within retail stores. A smaller share (19%) will seek inspiration from friends and families.

“Social media is playing an increasingly important role in consumer behavior, and Halloween is no different,” Prosper Insights Executive Vice President of Strategy Phil Rist said. “Younger consumers, particularly those under the age of 25, will look to platforms like Instagram and TikTok for costume inspiration this year.”

The survey also revealed that more consumers are planning to start shopping for Halloween early, with nearly 47% beginning in September or earlier. The majority (40%) of these consumers plan to make their purchases at discount stores, followed by specialty Halloween or costume stores (36%) and online (31%).

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