Tomorrow is Halloween, and even amidst the COVID-19 pandemic, people are still planning to celebrate. More than 148 million Americans still plan to celebrate Halloween this year, with 53 percent of consumers planning to decorate their homes, 46 percent planning to carve a pumpkin, spending an estimated $8 billion while doing all of it.
Haunted houses attract around $300 million in revenue each year, supporting hundreds of other local businesses across America, as vendors that supply these haunted house effects, props, costumes, masks, animation, and other things.
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Well, Paul, another week is winding down. Time for a little football and this weekend, time for a little trick-or-treat, as well. It’s Halloween tomorrow, and while this will go down as one of the most unusual, and maybe even stressful Halloween seasons for parents ever, more than 148 million Americans still plan to celebrate Halloween this year, with 53 percent of consumers planning to decorate their homes, 46 percent planning to carve a pumpkin, and spend an estimated $8 billion while doing all of it.
The average consumer is projected to spend $96 on decorations, candy and costumes this year.
Now the haunted house industry is expected to be brisk this year as well. Haunted house attractions attract around $300 million in revenue each year, and it supports hundreds of other local businesses across America, as vendors that supply these haunted house effects, props, costumes, masks, animation, and other things really benefit from these haunted attractions.
People enjoy being scared while in a safe environment, and as long as this trend persists, all aspects of this holiday will continue to have a positive impact on America’s local and national economy.
And while no doubt, there’ll be fewer people out trick-or-treating this Halloween season, families will be celebrating albeit likely at home with direct family only.
Only 23 percent plan to take children out trick-or-treating this year.
So, let’s get to the fun stuff: what are American spending this $8 billion on this year? Shoppers look to get a big bang for their buck, and Halloween always delivers. Well around 62 percent still plan to hand out candy, spending up to $11 or more on the sweet stuff per household. Decorations are another big category. Now, the most expensive part of Halloween tends to be the costumes. And despite COVID-19, 46 percent still plan to dress up, even though they’re at home parties this year. And speaking of costumes, let’s close it out by highlighting the most popular costumes of 2020.
Here we go. Top boy’s costume this year? Spider-Man. Top girls? Princess. Top of all costumes, witch for women, vampire for men, and top pet costumes too: pumpkins and hot dogs most popular this year for the pets.
So listen, Halloween is big business. If you’re in the retail space, get ready for big buying yet today and Saturday as people do their last-minute shopping.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat brought to you by Dell Technologies, on the Great Voice of the Great Lakes, WJR.