Men more likely than women to splurge on candy and decorations
With the economy more trick than treat, U.S. households are taking a more measured approach to Halloween spending, according to a new survey of Affluent households conducted by Millionaire Corner. Nearly two-thirds (63.5 percent) are planning to buy candy and other Halloween goodies, but 67 percent said they will not be decorating their house.
Just over eight-in-ten households plan to spend up to $50 on Halloween treats. Not surprisingly, women, who handle most of the household shopping and finances, are more likely than men to keep Halloween candy spending in this price range (87 percent vs. 77 percent). Men are more likely to splurge with 18.5 percent saying they will spend between $50 and $99 vs. 10 percent of women.
Twenty-percent of households under age 40 are slightly more likely to spend between $50 and $99 on Halloween candy. This is most likely because these younger households are most likely to have younger children or live in areas with a lot of kid traffic. Meanwhile, those over the age of 60 are the most likely (85 percent) to spend up to $50 on treats for the neighborhood tots.
If households are cutting back on Halloween spending, it is likely in the area of Halloween decorations. Even in younger households, less than half up to age 50 said they plan to make their homes creepy and kooky for Halloween. The oldest households are the least inclined to engage in Halloween decorating. Seventy-one percent said they would be candy-only zones.
Of those who are decorating, more than three-quarters (79 percent) are keeping the cost down to less than $50. As expected, under-40 households are the most likely (84 percent) to spend in this range on decorations as are women compared to men (86 percent vs. 75 percent). Men are more than twice as likely (17 percent vs. 8 percent) to spend between $50 and $99.
Whether it’s frugality or creativity, a majority of households (68 percent) plan to make their own costumers rather than purchase them.
The National Retail Federation projects that total U.S. spending on Halloween will reach $8 billion.
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.