Americans are expected to spend $2.2 billion on Halloween candy to dispense to trick or treaters.
Halloween trick or treaters have traditionally expressed disappointment with a home’s treat choice with eggs. The yolk will be on them this year, according to a consumer spending trends survey conducted by Spectrem’s Millionaire Corner. Nearly three-fourths (73 percent) of Affluent respondents will have chocolate on hand this Halloween.
Sixteen percent will be offering non-chocolate treats such as suckers, Smarties, or bubble gum.
Woe be to the 8 percent who report they will offer non-candy treats such a fruit snacks or pretzels.
Trick or treaters in search of chocolate are advised to beat a path to Millionaire households, Millionaire Corner’s consumer spending trends survey finds. They are the most likely (76 percent) to be handing out chocolate this year, compared with 68 percent of those with a net worth between $500K and $499.9K. Baby Boomers ages 51-60, too, are more likely than their younger counterparts to be handing out chocolate treats, perhaps as a way of recapturing the sweet trick or treat excursions of their youth. Eighty percent of these households said they will be handing out chocolate, compared with 72 percent of those under the age of 40.
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. The average person will spend $77.52 on Halloween this year, compared to $75.03 last year, according to the NRF’s consumer spending trends survey.
More than two-thirds (67.4 percent) will buy Halloween costumes this year, the most in the NRF survey’s 11-year history.
Affluent households in recent years have displayed a more frugal, DIY mindset when it comes to their Halloween costumes, opting to make their own rather than buy one. In a consumer spending trends survey conducted last year, 56 percent of Affluent respondents said they planned to make their own costume, compared to 42 percent who said they would purchase one.
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.