Savvy trick or treaters might want to consider doing a little last-minute research and scoping out the homes of corporate executives or Republicans.
The Halloween spirit seems to have bypassed Affluent households. Not to fear: they will be handing out candy. But the Affluent say, “Boo” when it comes to decorating the house or donning a costume, according to Spectem’s Millionaire Corner research.
Halloween is “one of the fastest-growing consumer holidays,” according to the National Retail Federation, which is forecasting a boom year for total Halloween spending: $7.4 billion, $2.2 billion of which will be spent on candy. Two-thirds of Affluent households will be giving out candy, and of these, roughly three-fourths will have chocolate on hand for trick or treaters. Sixteen percent will be offering non-chocolate treats such as suckers, Smarties, or bubble gum.
Married households are much more likely to be handing out candy than their single counterparts (72 percent vs. 45 percent). Likewise, trick or treaters might want to seek out their Republican neighbors. Members of the Grand Old Party are more likely to be doling out candy than Democrats (71 percent vs. 60 percent), Millionaire Corner research finds.
Decorating their homes for Halloween, though, does not seem to be a priority. Two-thirds of Affluent households surveyed by Spectrem’s Millionaire Corner said they would not be planning to decorate their homes. As for dressing up, a whopping nine-out-of-ten said they would not be donning a costume. Of those that were, nearly six-in-ten said they were going to make their own. Half said they would spend no more than $50.
This—pardon the holiday mixing—Scrooge-like attitude when it comes to Halloween is in keeping with the Affluent wealth creation mindset. America’s wealthy attribute their financial success primarily to hard work, education, smart investing and frugality, Millionaire Corner research finds. That does not leave much time for partying. On New Year’s Eve, for example, three-in-ten Millionaires will call it a night early so they can begin the new year rested, according to previous Millionaire Corner surveys.
But children probably won’t miss the decorations as long as they get the candy. Savvy trick or treaters might want to consider doing a little last-minute research and scoping out the homes of corporate executives. They comprise the highest percentage (40 percent) who spend between $50 and $99 on Halloween candy. Likewise, business owners are the most likely (11 percent) to spend between $100-$149 on candy, most likely to accommodate trick or treaters visiting their stores.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.