Trick or Treat: Record Halloween Spending Set To Hit $12.2 Billion In 2023

By CultureBanx Team

• Americans are set to invest a staggering $12.2B on Halloween festivities this year
• In per-person Halloween spending is expected to hit an all-time high of $108

As the spookiest time of the year rolls around, a record-breaking celebratory spirit is taking hold nationwide. Americans are set to invest a staggering $12.2 billion on Halloween festivities this year, a significant leap from last year’s $10.6 billion, according to recent projections from the National Retail Federation. A whopping 68% of Americans plan to hand out candy, ensuring that the tradition of trick-or-treating remains alive and well.

Why This Matters: Halloween spending encompasses a variety of categories, with costumes, decorations, and candies taking the lion’s share. One of the most popular ways consumers plan to celebrate the holiday is through outdoor decorations at $3.9 billion, coming only second to costumes at $4.1 billion. 

Eager to revel in the ghoulish traditions, 73% of Americans are planning to partake in Halloween activities, a noteworthy rise from 69% in 2022. This fervor is reflected in the per-person spending, which is expected to hit an all-time high of $108.24, up from $102.74 in 2021.

Every Halloween brings with it a fresh list of popular costumes. This year, for children, the most popular costumes are Spiderman, princess, and ghost. For adults, the fan favorites of witch and vampire continue to reign, with 5.8 million and 2.4 million adults planning to don these characters respectively. However, in a reflection of pop culture’s influence, a surprising 1.8 million Americans plan to dress up as the iconic Barbie

Situational Awareness: Quick history lesson on Halloween’s origins: It originated from Samhain, the ancient Celtic festival when people lit bonfires and doffed costumes to ward off ghosts. As Americans continue to embrace the holiday and its traditions, retailers are gearing up to meet the demand for costumes, decorations, and candies.

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