Halloween will be a treat for retailers this year, according to data from the National Retail Federation (NRF). Total Halloween spending is expected to reach a record $12.2 billion, exceeding last year’s record of $10.6 billion, according to the NRF’s annual survey conducted by Prosper Insights & Analytics.
A record number of people (73%) will participate in Halloween-related activities this year, up from 69% in 2022, it found. And 32% of people will make Halloween purchases online this year.
Costumes will see the greatest increase in spending, which the NRF said are more popular than ever. Sixty-nine percent of those celebrating Halloween plan to buy costumes, up from 67% last year and the highest in the survey’s history. Total spending on costumes is expected to reach a record $4.1 billion, up from $3.6 billion in 2022.
Total spending on decorations, which grew in popularity during the pandemic and continue to resonate with consumers, is expected to reach $3.9 billion. Of those celebrating Halloween, more than three-quarters (77%) plan to purchase decorations, which is on par with last year, but up from 72% in 2019.
Discount stores (40%) remain the leading destination to buy Halloween items, followed by specialty Halloween/costume stores (39%) and online (32%). While specialty Halloween and costume shops have always been a top destination for Halloween items, more consumers plan to shop at these stores this year than in the past.
The leading sources of inspiration continue to be online searches (37%), within a retail store or costume shop (28%), and friends and family (20%).
More details can be found in Wednesday’s press release on the NRF website.
