According to new data from the National Retail Federation, Halloween spending in the United States is expected to reach an all-time high of $13.5 billion this year, with consumers gearing up to buy more holiday items than ever before.
The latest research from the NRF suggests that while households plan to celebrate enthusiastically, they are also prioritizing cost savings by shopping earlier and seeking the best deals in response to inflation.
2024 Spending to Exceed Last Year’s Benchmark
Findings from the National Retail Federation’s report released Tuesday predict that Americans will spend $13.5 billion on Halloween this year, up from the $13.1 billion record set the previous year. The survey, produced in partnership with Prosper Insights & Analytics, showcases the changing behaviors of shoppers as they head into the holiday season.
Looking at where people are shopping, discount stores lead with 39% of consumers planning to buy their Halloween items there, followed by specialty Halloween or costume outlets at 32% and online options at 27%. Purchases from local or small businesses are on the rise, with 13% of Americans choosing these stores—almost double from ten years ago.
Adoption of Technology and Smart Shopping on the Rise
The NRF study also reveals more shoppers are adopting practical strategies for holiday planning. 49% intend to begin Halloween purchasing in September or earlier, with 23% actively doing so to stretch their dollars. An additional 21% are motivated by promotional sales and lower prices, underscoring that many shoppers are planning early to keep expenses in check.
Allison Zellerm, NRF’s vice president of industry and consumer insights, noted that “consumers continue to prioritize Halloween spending, but they do so with a focus on getting the most for their money.” She observed that this year’s shopper is “more deliberate and tactical, aiming to maximize every dollar throughout the season.”
Technology is also reshaping how Americans prepare for Halloween. Artificial intelligence is now used by 47% of those surveyed to plan their festivities. Phil Rist, executive vice president of strategy at Prosper Insights & Analytics, highlighted that AI is “increasingly common” for consumers, with main uses such as brainstorming costumes or decoration ideas (34%) and conducting product research or recommendation searches (32%). Rist points out that AI tools help consumers spark creativity and discover the perfect ideas to enhance their holiday experience.
Influences on Timing and Broader Spending Patterns
The survey found that external factors, like the arrival of autumn weather, influence when shoppers get started: 42% cite cooler temperatures as their cue to begin buying for Halloween (NRF report, September 1). Meanwhile, consumers are looking ahead to the winter holiday rush, with 54% planning to shop early for those holidays to better handle their finances.
Overall, the research reveals a wider shift among shoppers: while total spending is rising, people are purposefully stretching their budgets. Shopping ahead of time, seeking out bargains, and using digital resources are all strategies to make the most of their funds while still enjoying Halloween.
For businesses, these findings highlight important trends, from increased support for local retailers and growing adoption of artificial intelligence, to the start of holiday shopping coming earlier each year. Halloween 2024 is set to not only smash spending records but also serve as an indicator of evolving consumer strategies in a more budget-focused climate.