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Halloween is an undeniable cultural force with a massive financial footprint. The National Retail Federation’s annual Halloween survey, conducted with Prosper Insights & Analytics, surveyed 7,945 consumers aged 18 and older in September 2024. This year’s total Halloween spending is projected at $11.6 billion—a slight decrease from last year’s record-setting $12.2 billion—and participation in Halloween festivities is nearly unchanged at 72% (just 1% lower than in 2023).
Halloween participation has fluctuated over the years. In 2005, participation hit a record low of 53%. Similar dips occurred in 2007 (59%), likely due to the financial crisis, and in 2020 (58%) during the COVID-19 pandemic.
Despite these challenges, spending on candy, costumes, and decorations never wavered. In fact, spending surged as people made up for missed celebrations. In 2008, costume spending rose by $300 million and candy by $200 million. Post-COVID, 2021 saw a $700 million increase in costume spending and a $600 million rise in candy purchases.
This year marks the first dip in Halloween spending since the pandemic. Costume spending is down by $300 million, with candy and decorations both decreasing by $100 million.
Could the entertainment industry play a role in this decline?
According to a movie index by The Numbers, last year featured 5,710 top-grossing films with an average budget of $84 million, while this year saw only 4,627 films with an average budget of $72 million. Popular characters like Barbie, Mario, and Wednesday Addams fueled costume trends in 2023, as consumers flocked to mimic characters from major blockbuster hits. This year, with fewer standout movie releases, it’s possible that demand for entertainment-based costumes has slowed, which may be contributing to the overall decline in Halloween spending.
Even with a slight dip in spending and participation, Halloween continues to generate billions in revenue and captivate millions of Americans. Whether you’re going all out or keeping it low-key, have a spooktacular Halloween!
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