Show Me the Money: Halloween Spending

Show Me the Money

(WHTM) — We are gearing up for Halloween and Americans are ready to spend.

Believe it or not, Halloween is the second biggest retail event of the year, only behind Christmas.

According to the National Retail Federation, spending this year will reach an all-time high as more people plan to celebrate after the pandemic put things on hold last year.

Consumer spending this year is expected to soar to $10 billion, up from $8 billion in 2020.

Last year, just 58% of Americans celebrated the holiday, and this year it’s expected to jump to 68%.

A closer look at the numbers shows the average person will spend $102 on Halloween this year, which is $10 more than last year.

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So what are people spending their money on?

Obviously, candy tops the list, and it’s followed by decorations, costumes, pumpkins and parties.

Retailers helped move things along, by having Halloween items out this year even earlier than usual.

When it comes to costumes, Americans will spend $3.32 billion, the highest since 2017.

The most popular costumes for kids this year is Spiderman and a witch for adults.

About 1 in 5 will be dressing up their pet, with the most popular costume for them being a pumpkin.

But if you’re still searching, the most frightening thing for you will be empty shelves.

“This has truly been a scary year and we’re fortunate that we’re a small business and we were able to use our resources domestically and get everything in. But it was nail-biting, literally,” an expert said.

And we can’t forget about the candy, chocolate is once again king this year.

Halloween represents about 10% of the Hershey Company’s annual sales. A survey by RetailMeNot shows the most popular Halloween treat is M&Ms, beating out Reese’s Peanut Butter Cups by 1%.

That’s followed by Kit Kat, Snickers, Hershey Bars, Twix, Skittles and Candy Corn.

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