When a lot of people think of vacation spending, they think of all the purchases made for the December vacation. But, even before these year-end events happen, large numbers of Americans will end up blowing their budgets by taking advantage of another special day: Halloween.
These spooky vacations actually resulted in a frightening amount of spending, which could leave Americans with downright terrifying credit card bills. In fact, the amount of money consumers spend on Halloween purchases can come as a frightening surprise.
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Spooky Halloween Spending Statistics
According to the National Retail Federation, consumer spending on Halloween-related purchases will total approximately $ 10.14 billion this year. This is the highest level of Halloween spending on record and is a marked increase from the $ 8.05 billion spent in 2020. Spending levels are high as the average consumer expects to spend around $ 103 in candies, costumes, decorations and cards this year. That’s $ 10 more than in 2020.
One of the main reasons the collective spending costs are expected to be higher this year is that more Americans plan to celebrate in October, while many have pulled out in 2020 due to the pandemic. This year, around 65% of people are expected to participate in Halloween-related activities, while only 58% did so in 2020. However, not everyone feels comfortable partying – around 68% of people celebrated during the pre-COVID days, which is even higher than the number who will be participating in the activities this year.
Parents are probably a major driver of this spending, as those with children are more likely to celebrate Halloween. Indeed, the survey reports that 82% of households with children will participate in holiday-related activities against 55% of households without children. And in total, households with children will spend an average of nearly $ 150 this year compared to households without which spending is estimated to be around $ 74.
Spending on Christmas decorations is also on the rise this year. In fact, those with the spooky mind plan to spend around $ 3.17 billion collectively, up from $ 2.59 billion last year. And costume spending is expected to hit $ 3.32 billion, the highest since 2017.
How To Cut Your Halloween Costs
While Americans might plan on spending a lot to celebrate, there are ways to enjoy Halloween without blowing your budget or taking out credit cards. Here are some ideas:
- Make your own costume, especially if you are a handyman or handyman with a sewing machine
- Shop thrift stores or consignment stores for used costumes instead of buying new ones
- Keep decorations simple or buy from more affordable places such as dollar stores
- Buy from small farms or local stores for pumpkins and other decorations
By keeping it simple and opting for second-hand or homemade costumes, you can make Halloween a great day for yourself – and your kids – without emptying your bank account and ending up with regrets when the bill comes. expires.