Stores have been pushing Halloween candy, costumes and decorations since September, and now that we're just weeks away from October 31, the lure is almost unavoidable. When it comes to decorations, candy for kids, and costumes for yourself or your kids, do you spend more than the average person? Here's what most people are spending:
Halloween spending has been on the rise for the past five years and doesn't show any signs of slowing down.Overall, the National Retail Federation is predicting Halloween spending to reach a whopping $7.4 billion, up from last year's $6.9 billion. The NRF reports that 45 percent of Americans will dress up this year, which contributes to the $2.8 billion that will be spent on costumes alone; $1.1 billion of that $2.8 billion will be spent on costumes for the kids.
Additionally, $350 million will be spent on costumes for pets. Seventy-one percent of Americans plan on handing out candy, according to the survey. Between stocking up for trick-or-treaters, buying candy for the office, parties, and just to munch on yourself, it's perhaps not too surprising that money spent on Halloween candy is projected to reach $2.2 billion, over 70 percent of which will be on chocolate candy.
Besides costumes and candy, decorations and alcohol for Halloween parties also contributed to the projected Halloween spending costs. The average household will spend $125. It's the fourth biggest spending holiday, following winter holiday spending ($602 billion in consumer spending), back-to-school and college spending ($72.5 billion), and Mother's Day ($19.9 billion), according to 24/7 Wall St.
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