It’s so easy to get carried away around the holidays. Decorations, themed parties, costumes, gifts, etc can all add up faster than we expect. You’ve got to give out the best candy on the block. And HomeGoods and that Target dollar section? They both get me every single time. And after last year when holidays were different to say the least, many people will go all out this year, while others are still playing it safe and altering traditions. But who is spending the most on Halloween this year? A new study by Lending Tree surveyed over 2,000 Americans about their spending plans for this October 31st.
Questions included if they think they’ll go into debt for Halloween-related expenses and if they plan to skip on spending money on the holiday this year. And if they are deciding to splurge on Halloween what exactly are they buying? It comes as no surprise to me personally that most people are planning on spending money this spooky season. Those who anticipate spending the most are Gen Zers and parents with kids under 18.
Other interesting findings:
- 75% of Americans will spend money on Halloween this year. The most common purchases include candy (53%), pumpkins and carving supplies (24%), outdoor decorations (22%) and costumes for kids (20%).
- 24% of parents with kids under 18 will spend more than they can afford, and 41% are planning a special splurge. Their primary reason for overspending is to make their children happy (47%).
- Gen Zers will also spend big for Halloween, with 57% splurging and 23% spending more than they can afford. That generation’s main motivator was fear of missing out (29%).
- Social media is another big motivator for Halloween spending. Gen Zers (60%), parents of kids under 18 (52%) and women (41%) all say they buy Halloween-related items in order to include them in social media posts.
- Watching a scary movie and buying Halloween treats are the top two ways Americans will celebrate the holiday (both 32%). On the other hand, 12% say they won’t partake in Halloween due to COVID-1
View the full study here