MOLINE, Ill. — With Halloween just a few weeks away, millions of Americans have already started decorating their front lawns and porches. But the seasonal rush for decorations, costumes, candy and other supplies also provides a welcomed boost for America’s retailers. According to the National Retail Federation, Americans are expected to spend over $12 billion this Halloween season.
News 8's Devin Brooks sat down with Mark Grywacheski of the Quad Cities Investment Group to discuss the finance side of Halloween.
Brooks: What are some of the trends and forecasts we’re expected to see this Halloween season?
Grywacheski: Despite high inflation, high interest rates and a still-cloudy outlook for the US economy, the NRF still maintains a fairly optimistic outlook for this year’s Halloween season.
- This year, Americans are expected to spend a record-high $12.2B on Halloween-related items, up 15.1% from last year. For perspective, the Nov.-Dec. RHSS is expected to generate nearly $1T in consumer spending.
- On average, each person will spend $108.24 on costumes, candy and decorations. Although we all know some people who take this to extreme levels!
- The top shopping destination will be discount stores. Specialty Halloween/costume stores come in at a close second.
- A record-high 73% of Americans will participate in some Halloween-related activity.
- Americans will spend a gut-busting $3.6B on Halloween candy this year.
- Americans will spend $4.1B on Halloween costumes. Of this $4.1B, Americans will spend about $700M on costumes for their pets!
Brooks: Obviously, a big part of the Halloween season is people dressing up in costumes. What are the favorite costumes we should expect this season?
Grywacheski: In a nationwide survey, for adults, the number one costume this year is a witch. The second most popular is vampire, followed by Barbie.
For kids, the number one costume this year is Spiderman, followed by princess and a ghost.
Remember, Americans are expected to spend $700M on costumes for their pets. The number one costume this year is a pumpkin, followed by hot dog and a bat.
Brooks: Even as adults, everyone looks forward to the Halloween candy! What are some of the favorite and least favorite types of Halloween candy?
Grywacheski: In a nationwide survey, the most popular type of Halloween candy is Reese’s Peanut Butter Cups, followed by M&M’s. In Iowa, the number one Halloween candy is also Reese’s Peanut Butter Cups. But here in Illinois, the number one Halloween candy is Sour Patch Kids.
But as for the least favorite, here is a nationwide ranking of 'The Worst Halloween Candy' one can receive:
- Circus peanuts
- Candy corn
- NECCO wafers
- Peanut Butter kisses
- Wax cola bottles
- Mary Janes
- Smarties
- Licorice
- Bit-o-Honey
- Tootsie Rolls
As for numbers one through four, I think we can all agree that this is the worst of the worst! But Tootsie Rolls, Bit-O’-Honeys and even Smarties, I don’t see how they made this list!
Quad Cities Investment Group is a Registered Investment Adviser. This material is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Quad Cities Investment Group and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Quad Cities Investment Group unless a client service agreement is in place.
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