Halloween spending projected to hit record $10.14B
65% of Americans are planning to celebrate or participate in Halloween-related activities
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The National Retail Federation (NRF) projected that Halloween spending will reach an all-time high this year, surpassing $10 billion.
The projection is an increase from the $8.05 billion spent in 2020, as more consumers are expected to celebrate this year despite growing concerns over the delta variant of the coronavirus.
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About 65% of Americans are planning to celebrate Halloween, or at the very least participate in activities related to the holiday this year, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics.
This is up from the 58% that participated in 2020 and is even nearing pre-pandemic levels. In 2019, roughly 68% of consumers participated in the holiday, according to the retail trade group.
"Americans plan to spend more than ever to make this Halloween a memorable one," NRF CEO Matthew Shay said.
Halloween candy and decorations are displayed at a store, Wednesday, Sept. 23, 2020, in Freeport, Maine. (AP Photo/Robert F. Bukaty / AP Newsroom)
With more people participating this year, average spending will likely increase, according to the NRF.
For instance, consumers plan to spend an average of $102.74 on costumes, candy, decorations and greeting cards, which is roughly $10 more than they planned to spend in 2020, according to the NRF.
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Spending on decorations, in particular, is projected to climb to $3.17 billion while the spending on costumes is projected to notch its highest level since 2017, reaching $3.32 billion.
Nearly half of consumers (45%) have already started their Halloween shopping or plan to start this month, according to the retail trade group. About 39% plan to shop during the first two weeks of October.
To prepare for the surge in spending and shoppers, 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," according to Shay.