The scariest thing this Halloween won’t be ghouls or goblins; instead, it may be checking your bank account balance after having purchased all of your holiday items.
But if you overspend on Halloween this year, you won’t be alone.
Consumer spending on Halloween items is expected to reach an all-time high of $10.14 billion this year, according to the National Retail Federation. Last year, Halloween spending resided at $8.05 billion.
“Americans plan to spend more than ever to make this Halloween a memorable one,” NRF President and CEO Matthew Shay said in a release. “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.”
For some, the Halloween shopping may have already started, as many retailers are stocking their shelves with Halloween items. The NRF says 45% of consumers are already shopping, and another 39% will shop in early October.
On average, people are expected to spend $102.74 on costumes, candy, decorations and greeting cards, which is up by $10 more than last year, according to the NRF.
And, families that have children are expected to spend more than twice the amount on Halloween items than households without children, the NRF said in a release.
“This year, in particular, we see an emphasis on Halloween spending from families,” Prosper Insights Executive Vice President of Strategy Phil Rist said in a release. “Not only are those with children intending to spend more on Halloween-related items like costumes, they are also getting a kick start on their shopping, with more than half planning to start their shopping in September or earlier.”
Costumes tend to be the top item on the Halloween shopping list, whether it’s for young children, adults, or even pets.
The NRF said total spending on costumes is the highest it has been since 2017, coming in at $3.32 billion.
So, whether you’ve already started you’re Halloween shopping or are waiting until October hits, just remember to keep tabs on your wallet.