TULSA, Okla. — Halloween's almost here. New data shows shoppers are preparing to spend nearly $200 each on costumes, candy and decorations — even as many admit they'll go into debt to fund their frightful festivities.
A new LendingTree survey reveals the average Halloween celebrant will spend $192 this year, up $20 from 2023's $172. But the real scare comes from debt trends: 25% of Halloween revelers admit they've gone into debt for the holiday before and expect to do so again this year, a significant jump from 17% last year.
Among those who overspend, 40% say they do it to make their kids happy or to outdo their neighbors' decorations.
"Some people think it's completely silly to spend a bunch of money on Halloween, but for some people, it's their favorite night of the year," Schulz said. "We've certainly seen that while a lot of people are making sacrifices and buying fewer things this Halloween, an awful lot of people are still going to dive in and take on debt."
Where your Halloween dollars go
Retail-Me-Not's survey breaks down consumer spending priorities, with candy at the top.
"We are seeing that candy is still reigning supreme with 70% of shoppers," said Stephanie Carls from Retail-Me-Not. "40% of individuals are saying they want to buy those interior decorations as well as around 39% investing in those outdoor setups."
Nearly a quarter of consumers are also spending on experiences like parties and haunted houses, according to the survey data.
The LendingTree survey found candy tops the shopping list of those it surveyed with 60% spending on sweets, followed by pumpkins at 35% and outdoor decorations at 34%.
Financial fears haunt Halloween shoppers
Despite increased spending, more than 6 in 10 consumers say they're skipping certain Halloween purchases this year due to financial uncertainty. Candy and decorations are most likely to disappear from shopping carts, with 33% and 32% of spenders cutting these items respectively.
While 43% of spenders plan to spend more than last year, 21% say their interest in Halloween spending has decreased over the past five years.
Smart strategies to avoid Halloween debt
To curb costs and take the fright out of Halloween spending, experts recommend looking beyond just sales.
"Don't just rely on sales — use them along with digital coupons and also looking at cashback offers," Carls said.
Other money-saving strategies include:
- Setting a firm budget before shopping
- Comparing prices across multiple retailers
- Shopping early for better selection and deals
- Consider DIY costumes and decorations
- Focus spending on what matters most to your family
This story was reported on-air by a journalist and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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