Survey: Halloween shoppers to spend $172 on average
Despite more than half of Halloween consumers saying they will forgo a purchase this year due to inflation, many are expecting to spend more than last year on the holiday.
That’s according to LendingTree’s 2024 Halloween Spending Report, which surveyed more than 2,000 U.S. consumers. Nearly six-in-10 (59%) consumers will forgo a Halloween purchase this year due to inflation, including decorations (30%), candy (28%) and party supplies (23%). Across generations, Gen Zers who plan to spend on Halloween are most likely to cut back on holiday purchases at 74%.
More than a quarter (28%) of Halloween spenders have gone into debt over holiday items or activities, with 17% saying they likely will again this year. When asked what contributed to their decision to overspend, 40% admitted they wanted to impress neighbors with their decorations. Overall, about half (49%) of those who’ve overspent on Halloween regret it.
“It never surprises me to hear people cutting back on anything because of inflation,” said Matt Schulz, LendingTree chief credit analyst. “Life is so much more expensive than just a few years ago, and it has left many Americans squeezed to the breaking point. When that happens, sacrifices have to be made, and sometimes that means dialing back on things you love, like Halloween spending.”
Despite plans to cut back on certain items, almost half (47%) of Halloween shoppers plan to “splurge” this year, mainly on costumes (17%), decorations (16%) or themed activities (14%). Overall, LendingTree predicts consumers will spend $172 on average (up from $162 in 2023), with 33% expecting to spend more this year than last.
[READ MORE: EXCLUSIVE: Timing, deals are key to Halloween and holiday pricing]
Some of the groups expected to spend the most are men ($225, versus $115 for women), millennials ($233), parents with kids under 18 ($260) and those earning more than $100,000 a year ($299). Among generations, 22% of millennials ages 28 to 43 are likely to go all out on Halloween decorations, while a good portion of Gen Z is spending on travel to a Halloween-themed attraction outside their city (18%, versus 10% overall).
When it comes to Halloween shopping lists, candy is at the top with 59% of Americans planning to stock up. Costumes for themselves, kids and/or pets (18%, 22% and 13%, respectively), decorations for inside and outside the home (20% and 23%, respectively), Halloween-related food and beverages — not including candy (10% and 7%, respectively), and arts and crafts (16%) are all on shoppers’ agendas as well.
