Will rising costs frighten away fans of haunts?
Americans have not been spooked by higher prices this year.
The cost of almost everything Halloween-related is on the rise this year, with Americans spending more on candy, costumes, decorations and tickets to events such as the Oogie Boogie Bash at Disneyland in California. The average American household is expected to dole out $100 on Halloween this year, up from about $86 in 2019, according to a survey by the National Retail Federation.
Participation in Halloween-related activities are expected to reach 2019 levels this year, according to the retailer industry group. Consider that the Oogie Boogie Bash sold out in three days this year, compared with 140 days in 2019.
Economists and Halloween experts attribute the increasing participation in the autumn spook fest to a combination of factors, including a rebound in activities by Americans who stayed home in recent years due to the pandemic and the continued popularity among young people of attending unique events to post photos and videos on social media sites.
Young adults ages 18 to 24, who stayed away from gatherings such as Halloween parties and haunted houses due to COVID-19, are making up for lost time and treating themselves to more outings this year, said Katherine Cullen, senior director of industry and consumer insights at the National Retail Federation.
“Young adults who did not participate in Halloween the way they did before, that is the group that has come back,” she said.
Although the country’s economic future seems uncertain, many middle- and upper-middle-class Americans have built up a stash of savings over the last year or two and are ready to spend those reserves, said Lee Mcpheters, an economics professor at Arizona State University.
He pointed to a U.S. Federal Reserve study that shows American households have a record $4.9 trillion in checking, savings and money market accounts.
“People are coming out of their shell, but on top of that they are bringing along very strong purchasing power,” he said. “In spite of inflation, they have a positive attitude about their own situation.”
Participation in Halloween-related activities is expected to reach the highest level in three years, with 69% of Americans surveyed saying they plan to celebrate the holiday this year, up from 65% in 2021, according to the National Retail Federation.
Americans are projected to spend the highest on record — a total of $10.6 billion this year, compared with $10.1 billion in 2021 — on Halloween candy, costumes and decorations, according to the National Retail Federation. Spending on candy per household is expected to reach $29.51 this year, up from $26.03 in 2019, the federation survey said.
Hershey’s — the maker of Reese’s peanut butter cups, Kisses and Twizzlers — increased overall prices 14% in June due to “increased cost pressures across our business,” but a company representative said the price hike did not target seasonal Halloween candy.
The higher costs for Halloween are reflected in the prices for Halloween events in Southern California.
The cheapest tickets for the Oogie Boogie Bash at Disney California Adventure are $129 this year, up from $114 last year, a 13% increase. Parking prices at the resort rose to $30 this year from $25 last year. Ticket prices vary by day, with the highest price — $179 for Halloween night.
The least expensive tickets to Knott’s Berry Farm’s Halloween celebration sell for $59 this year, up from $50 last year, an 18% increase. Parking prices at the park have increased to $30 from $25 last year.
In Long Beach, tickets for the Halloween event that took place at the Queen Mary ocean liner — known as Dark Harbor — sold for as little as $20 a night before the event was canceled due to the pandemic and costly repairs that were needed on the ship. A new Halloween event hosted by NBA legend Shaquille O’neal — dubbed Shaqtoberfest — has taken over adjacent to the Queen Mary this year, with tickets starting at $24.99.