Americans Set to Spend Record $12 Billion on Halloween in 2023 Despite Economic Uncertainty
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Consumers love rituals and are willing to spend on "ritual artifacts" like costumes, candy, and pumpkins even during economic uncertainty.
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Halloween spending has remained high even during Covid-19. In 2020, consumers still spent over $8 billion.
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Participation this year is expected to be the highest since before the pandemic. 32% of respondents plan to attend or host Halloween parties.
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Home decor like large skeleton props can cost hundreds or thousands of dollars, driving high spending.
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Social media sharing of costumes and decor helps keep Halloween top of mind and popular, especially among young people.