Fall is upon us and so is the holiday of Halloween. Costumes are not the only thing to be frightened of this holiday but also the cost that is associated with the holiday. According to a survey done by Prosper Insights & Analytics, nearly 158 million people will celebrate Halloween this year. People will celebrate the holiday in many ways, including attending Halloween parties and haunted houses, pumpkin carving, and trick-or-treating. It is safe to say that Halloween is no longer celebrated one night a year.
We’ve all known that Halloween is a big business holiday for candy companies, but it has grown beyond that. This year it is estimated that over $2 billion will be spent on candy. Costume companies will also be happy to know that an estimated total of $2.6 billion will be spent on Halloween costumes in 2013. Costumes are not limited to children. Adults will spend $1.22 billion on costumes for themselves and $330 million on costumes for pets. Halloween decorations account for $1.96 billion that people will spend this time of the year. This holiday is gradually becoming one of the more expensive holidays for consumers.
Another industry that is sharing in the Halloween spirit is beer companies. We are seeing more and more seasonally flavored beers being offered by companies. You have to serve your guests something when they show up to your Halloween party - why not serve a beer that fits the theme? This is an interesting way to capitalize off the celebration of Halloween.
Americans will spend an estimated $6.9 billion total on Halloween this year, according to the National Retail Federation (excluding cost of seasonal beer). Whether you have kids that are trick-or-treating or you plan on attending a Halloween party, this holiday is becoming a bigger deal on your finances.
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