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The final three months of the year is typically the busiest period in terms of consumer spending. Although Halloween spending is nowhere close to Black Friday or Christmas, it surely is a forecast of what's to come.
Spending Heads North
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Average Halloween spending this year is likely to increase about 9 percent, according to a survey by LenEDU. The findings were based on a survey of 1,000 Americans.
An average American is expected to spend $185.50 this Halloween, up from $169.81 in 2017.
Meanwhile, the National Retail Federation reported Halloween spending in 2018 is likely to hit $9 billion, the second highest number in the survey's history; $9.1 billion was spent in 2017.
"The economy is good and consumer confidence is high, so families are ready to spend on Halloween this year," NRF President and CEO Matthew Shay said. "Retailers are stocking up to supply children, pets and adults with their favorite decorations, candy and costumes for the season."
Treat Over Trick
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LenEdu's breakdown among the three hottest Halloween items -- candy, costumes and decorations -- showed roughly $76.05 going into candies.
Source: LenEdu
Spending on candies, however, isn't likely to be uniform across states, according to a survey of retailers by Quotient Technology and its Coupons.com savings app.
Utah, Rhode Island, Massachusetts, New York and Connecticut are among states that drop 15 percent of their candy spend during October. Arkansas and Louisiana occupy the bottom rung, with just 9 percent of their yearly candy spend.
The top candy bars bought ahead of the Halloween are Reese's, M&M's, Hershey Bars, Snickers and Kit-Kats, the survey said.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.