Halloween candy is a $2.5 bln industry
Of the total $7.4 bln that the National Retail Federation expects U.S. consumers to spend on Halloween celebrations in 2014, about one-third of that amount or $2.5 bln will be spent on candy, according to the National Confectioners Association (NCA).
About 75% of U.S. households plan to distribute candy to the goblins, superheroes and zombies that show up at their doors on Halloween. And if the trick-or-treaters want to maximize their holiday take, they should visit the homes of people who are 60 or more years old. Some 84% of those in that age group will be passing out candy on Halloween.
The most popular candy treat: chocolate, the favourite of 72% of Americans. Candy corn trailed in a distant second with 12%. More than 60% of candy buyers chose their own favorites when buying candy to give out as Halloween treats.
Millennials are the most likely to celebrate with parties and costumes. More than half say they will attend a Halloween party this year and 47% will be in costume. About 13% of those surveyed plan to dress up their pets for the holiday, including 24% of millennials.
The National Retail Federation estimates that spending on children’s costumes will total $1.1 bln, while adults will spend $1.4 bln on costumes for themselves and another $350 mln on costumes for their pets.
Costumes get about a third of the total Halloween spending, while candy gets another third. The rest goes for decorations, food and other party supplies. Maybe some Americans even buy a few apples to give to trick-or-treaters instead of candy. It could happen.
One final note: the NCA reports that 78% of parents admit “sharing” candy from their kids’ haul. We believe the other 22% are congenital liars.