Question of the Day: Which Halloween item do consumers expect to spend the most on: Decorations, Candy or Costumes?
With Halloween shopping expected to return to pre-pandemic levels of participation, which area is goblin up the most bones?
Answer: Costumes is the #1 item at $33.75 spent per household followed by Decorations and Candy.
- What did you/your family spend the most on this year? How much did you/your family spend on all Halloween items? [Average total spend this year was $100.45)
- What role did social media have on your Halloween spending this year (e.g., did you find costume ideas on Instagram?) Explain.
- Would it surprise you to learn that Halloween is the second most popular holiday in terms of consumer spending? Why do you think it's so popular?
Here are the ready-to-go slides for this Question of the Day that you can use in your classroom.
Behind the numbers (National Retail Federation data and press release);
While total spending on costumes, decorations and candy is expected to reach record levels, there was a slight drop in spending on greeting cards. Unsurprisingly, costumes account for the biggest area of Halloween purchases. Spending on kids’ and adult costumes is expected to total $2.9 billion, the highest amount since 2017. Pet spending is expected to exceed last year's record high, reaching $710 million.
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About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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