This Halloween, Americans are expected to spend a record $10.14 billion on Halloween celebrations, according to the National Retail Federation (NRF). This is a significant increase from 2020 when the COVID-19 pandemic damaged many Halloween plans. For 2022, more people are expected to celebrate Halloween, and spending is expected to set new records.
- Halloween is one of the biggest holidays in the United States, and celebrations this year were slightly lower than pre-pandemic levels.
- This year, people are expected to spend a record-breaking amount of money on holiday. An estimated $10.6 billion will be spent in 2022, up from $10.14 billion in 2021.
- On average, people will spend around $100 on these activities.
Costs of Halloween
As Halloween approaches, many Americans are getting ready to celebrate. According to NRF data, 69% of Americans said they planned to take part in Halloween celebrations this year, up from 65% last year. U.S. consumers are expected to spend an estimated $10.6 billion this year, a significant increase.
People celebrating Halloween in 2022 are expected to spend an average of $100. The estimated $10.6 billion in total spending is expected to be divided among the following categories:
- $3.6 billion for costumes
- $3.1 billion for candy
- $3.4 billion for decorations
- $0.6 billion for greeting cards
Costume prices
Americans will spend an estimated $3.6 billion on Halloween costumes in 2022. The National Retail Federation estimates that $1.2 billion will be spent on children while $1.7 billion will go towards adult costumes. Pet Halloween costumes are also gaining in popularity and are expected to generate $0.7 billion in sales.
Dressing up as their favorite character has become a staple of Halloween celebrations for many children. Amongst the most popular costumes are those of superheroes, with Spider-Man topping the list. Also famous are tiaras, gowns, and glass slippers worn by little princesses (just behind Spider-Man in popularity). The top five costumes are Batman, other favorite superheroes, and witches. Child-sized costumes typically cost between $25 and $40, not including additional props, makeup, and a bag to store candy.
It’s no surprise that adults are participating in the Halloween fun this year. The top five costumes among adults are witch, vampire, ghost, cat, and pirate. Costumes typically range from $30 to $60, but some can cost hundreds of dollars for those who want to go all out.
This year, many pets will be dressed up in costumes for Halloween. The most popular pet costumes include pumpkins, hot dogs, bats, witches, and bumblebees. Some parents even dress their pets up as their favorite superheroes and princesses.
How to Save Money on Halloween
Halloween is a great time to get together with friends and family, but it can also be a big drain on your wallet. Here are a few tips to help you keep your spending in check this October:
- Making the costumes versus buying them.
- Purchasing large quantities of candy from warehouse clubs in preparation for trick-or-treaters.
- Low-cost decorations for your home can be made from supplies or items you already have around the house.
- Go to thrift stores or surplus stores.
- There are plenty of free Halloween events happening in communities.
There are plenty of ways to save money when hosting a Halloween party. One way is to encourage everyone to bring snacks or drinks to share. This way, you won’t have to spend as much on food. You can also save on decorations and party supplies by shopping online at the dollar store or a discount party supply store.
You can start thinking about next year as soon as Halloween is over. Most stores put Halloween items on sale the day after, so it’s an excellent opportunity to stock up on candy, decorations, and costumes. Remember that the candy might not be fresh by next Halloween.
What is the annual cost of Halloween?
Halloween would not be the same without delicious, sugary treats. In 2022, Americans are estimated to spend a whopping $3.1 billion on Halloween sweets.
What are the most popular Halloween costumes?
Kids love to dress up as their favorite heroes and princesses. Adults, on the other hand, tend to prefer costumes that are a little more spooky, like witches, vampires, ghosts, cats, and pirates.
Conclusion
This Halloween, Americans are planning to spend more than ever to make sure it is a memorable one. According to NRF President and Chief Executive Officer Matthew Shay, people are going all out to ensure that this Halloween is close to pre-pandemic levels of celebration.
Halloween is just around the corner, so it’s time to start thinking about your costume and candy budget. But don’t let the holiday scare you off from being financially savvy. With some preparation, you can stay on track and avoid overspending.
