If you're a fan of Halloween, last year's holiday may have come as a disappointment for you. Parties with themed cocktails and appetizers were replaced with socially distant gatherings in the front yard, and trick-or-treating was replaced with pre-packaged goody bags. Luckily, in 2021, Halloween is back and better than ever. According to a new report released by the National Retail Federation, consumer spending on Halloween related items is slated to reach an all-time high this year. "Americans plan to spend more than ever to make this Halloween a memorable one," says NRF president and CEO Matthew Shay.
The report predicts Halloween spending will hit a record $10.14 million this year, up from $8.05 billion in 2020. The data comes from an annual survey conducted by the NRF through Prosper Insights & Analytics, a company that uses data to predict consumer spending behavior. The survey was conducted from September 1 to September 8 when researchers asked 8,061 consumers about their Halloween shopping plans.
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According to their findings, an estimated 65% of Americans plan to celebrate Halloween or participate in Halloween-related activities this year, up from 58% last year. About 66% of consumers plan to celebrate by handing out candy, 52% plan to decorate their home or yard, 46% want to dress up in costume, and 44% want to celebrate by carving a pumpkin. Although less popular among consumers, about 25% plan to host a or attend a Halloween party. "Retailers have implemented a number of measures, such as bringing in Halloween products earlier than normal, to ensure their shelves are stocked with seasonal candy, décor and other items ahead of this important holiday," Shay says.
With more Americans planning to celebrate Halloween this year, average spending is also up. The report concludes that on average consumers plan to spend $102.74 on costumes, candy, decorations, and greeting cards which is $10 than last year. The bulk of the spending comes from households with children which are projected to spend more than twice the amount than households without children. Overall, the survey reports that total spending on costumes will reach $3.32 billion, the highest it's been since 2017.