October 26, 2016 by Lisa Brammer
Americans love Halloween. It’s easy to see, just drive down the street. There are Halloween decorations everywhere!
According to the National Retail Federation’s annual survey, more than 171 million of us plan to celebrate All Hallows’ Evening, aka Halloween, this year with total spending expected to reach an all-time high of $8.4 billion! That’s 1.5 billion dollars more than we spent last year. Sounds crazy doesn’t it?
Almost $6 billion will be spent on the 3 ‘c’s of Halloween: costumes ($3.1 billion) candy ($2.5 billion) and cards ($390 million). The remaining $2.4 billion will be spent on decorations.
As spooky as these spending statistics sound, we need to keep some perspective. Did you know Halloween doesn’t even make the list of top 5 when it comes to holiday spending?
- Christmas (winter holidays)
- Mother’s Day
- Valentine’s Day
- Father’s Day
As long as we are counting, Halloween isn’t even number six. According to the NRF we spend more on the Super Bowl than we do on Halloween. Even though Super Bowl Sunday isn’t actually a holiday, it does have holiday-like status in many American households that is evident by the amount we spend preparing for the big game.
Even though we are spending billions of dollars on candy for the holiday, the number of families that plan to go door-to-door trick-or-treating is expected to be the 2nd lowest amount since the survey began in 2003. Is this driven by our obsession with limiting sugar and gluten; or concerns with nut allergies? No matter, whether you plan to take to the streets with the kids, visit a haunted house, or partake in a spooktacular event, there are plenty of Halloween festivities to enjoy.
Whatever you do, have a fun and safe holiday.
Founded in 1950, United Credit Service, Inc. is a full service, licensed revenue cycle management and debt collection agency in Wisconsin providing effective, customized one on one management and recovery solutions for our business partners. Visit our website at http://www.unitedcreditservice.com, call 877-723-2902 or check out our YouTube video.