Chris O'Shea
Depending on how you look at specific holidays, they can either bring out the spender or the saver in you. If you’re like most consumers this year, you’re taking the savings route when considering Halloween. A new survey finds that the average consumer is cutting back on spooky spending.
Spending Survey
The National Retail Federation’s annual Halloween spending survey found that:
- About 158 million consumers will participate in some Halloween activity this year.
- Down from 170 million last year.
Tightening Budgets
And those who are celebrating are feeling more budget-conscious than before.
- The average person is expected to spend about $75 total.
- Average spending was $79 last year.
Budget-Conscious Sentiment
Consumer sentiment is also on a downward trend.
- 89% of respondents anticipated spending less this year.
- 25% claiming that the state of America’s economy has them thinking twice about how much cash they’ll dish out.
Tips for Saving
How are people saving on Halloween? One of the easiest ways is to do the following:
- Make vs. Buy. Create your costume instead of buying one. Just take a look around your house and get creative.
- Downsize. You can also buy less candy or shop the deals at discount stores.
- Lights Out. Spending less on candy may equal less supply; you can simply close up shop earlier than you have in the past.
Do One Thing: Purchase less Halloween candy this year. Chances are you won’t need it.
Jean Chatzky
