Halloween’s Sweet Treat: Record-Breaking Consumer Spending
It is estimated that consumers will spend $12.2 billion on this year’s spooky season. This would be the highest amount ever recorded, and a massive growth of 8% compared to last year. It is interesting to notice that the increase over the last 10 years is similar to inflation between 2013 and 2023 (35% vs 32%), although most of the inflation happened in the last three years. Even accounting for inflation, consumers spent less in the last three years, but Halloween is still a very popular holiday. Customers are shopping weeks ahead. According to Phil Rist, Prosper Executive Vice President of Strategy “Younger consumers are eager to begin their Halloween shopping, with more than half of those ages 25-44 planning to shop before or during September.”