The US National Retail Federation (NRF) expects US Halloween spending to rise to US$13.5 billion (about HK$105.3 billion) this year from US$13.1 billion (about HK$102.2 billion) last year, pressured by higher prices and intensifying economic strain driven by President Trump's tariff policies. Recent surveys show that two-thirds of Americans find the increase in Halloween expenses alarming, with 61% feeling uncertain about the US economic outlook and needing to cut back on various Halloween purchases to prevent worsening debt burdens.
An independent survey by online lending platform LendingTree found that consumers who value Halloween expect to spend an average of US$162 (about HK$1,263) this year, down 16% from US$192 (about HK$1,497) last year. Wealthier households will not cut back on spending, but many debt-laden individuals need to tighten their belts during the holiday to avoid overspending.
Halloween is just the beginning of the American holiday season, with Thanksgiving, Black Friday and Christmas celebrations all requiring money. With prices soaring, consumers prefer to plan their spending for the entire holiday season as a whole rather than planning each occasion separately, to avoid losing their budget. Consumer behavior analyst Leimkuehler said the increase in holiday spending is not surprising, as nearly all living expenses in the US keep rising. Higher transportation and logistics costs have pushed up prices of Halloween costumes and decorations, and chocolate prices are also up 8% from last year, with a bag of assorted Halloween candy averaging US$16.96 (about HK$132).
Economic uncertainty has led many adults to spend cautiously, such as reducing Halloween shopping. Financial institutions expect holiday spending to increase people's debt, with the highest borrowing rates among Gen Z (43%), parents with children under 18 (40%) and millennials (35%). Federal Reserve data shows that by the end of the second quarter this year, total US household debt reached US$18.7 trillion (about HK$146 trillion), with about 40% of adults carrying an average of about US$6,600 (about HK$51,500) in credit card debt.
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