Halloween spending to reach record $12.1 billion in US
The National Research Federation has estimated that Halloween spending is expected to reach $12.2 billion, exceeding last year’s record of $10.6 billion.
As per the NRF's annual survey by Prosper Insights & Analytics, an unprecedented 73% of individuals are set to engage in Halloween festivities this year, marking a notable increase from the 69% recorded in 2022.
NRF President and CEO, Matthew Shay, noted the record-breaking enthusiasm, stating that more Americans than ever are poised to spend substantially on Halloween celebrations. Consumers are gearing up early for decorations and related items, and retailers are well-prepared with ample inventory to facilitate the enjoyment of this beloved tradition.
In a return to pre-pandemic norms, a higher percentage of consumers (32%) plan to host or attend parties, while 28% intend to take their children trick-or-treating. Per-person spending is on the rise, with consumers planning to set a record of $108.24 each. The surge in spending is particularly evident in the costume category, which has reached unprecedented popularity.
This year, 69% of celebrants plan to purchase costumes, marking an increase from 67% last year and representing the highest percentage in the history of the survey. Anticipated total spending on costumes is projected to reach a record $4.1 billion, up from $3.6 billion in 2022.
Spending on decorations is also on the upswing, expected to reach $3.9 billion compared to $3.1 billion the previous year. Discount stores retain their position as the primary destination for Halloween items, with 40% planning to shop there, followed by specialty Halloween/costume stores (39%) and online platforms (32%).
Noteworthy increases in spending are anticipated for adult costumes, forecasted to rise by 18% to $2 billion, and children's costumes, expected to increase by 20% to $1.4 billion compared to 2022.
The top children's costumes for Halloween 2023 include familiar favorites such as Spiderman, Princess, Ghost, Superhero, Witch, Batman, Barbie, Zombie, Mario, and Wednesday Addams. Meanwhile, the top adult costumes for Halloween 2023 feature popular choices like Witch, Vampire, Barbie, Batman, Cat, Zombie, Pirate, Princess, Ghost, and Spiderman.