Halloween Spending Projected to Surpass $12.2 Billion
According to the latest survey by the National Retail Federation, the total Halloween spending in 2023 will reach a record $12.2 billion, easily surpassing the $10.6 billion from the year before.
The data supports the year's trends on holiday spending, which indicated an overall rise of 3.6% to 4.5% in retail holiday sales, as consumer spending rebounds from the pandemic years.
The largest portion of Halloween spending will once again go toward costumes, with an estimate of $4.1 billion, out of which over $700 million will be spent specifically on pet costumes, as Americans splurge more and more on their animal companions. The average amount a shopper will spend on costumes this year is expected to grow by 9.2%, to $36.54.
Spending on decorations follows next, with an estimated $3.9 billion, while sales of candy are expected to reach $3.6 billion.
The survey also found that 73% of people plan to participate in Halloween activities this year, up 4% from 2022.
I have always thought of myself as a writer, but I began my career as a data operator with a large fintech firm. This position proved invaluable for learning how banks and other financial institutions operate. Daily correspondence with banking experts gave me insight into the systems and policies that power the economy. When I got the chance to translate my experience into words, I gladly joined the smart, enthusiastic Fortunly team.
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