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Halloween spending may be down this year, but retailers aren't spooked

Even while Halloween spending is forecast to be down from last year, it's remained strong since during the pandemic.
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Cole Gordon took a break during a busy day to show off what his family has been building on their farm in Skagit County, Washington for decades — a picturesque pumpkin paradise that's become a popular fall destination.

"Back in the 80s, my father started selling pumpkins on the side of the road. Just like, a couple. And then it blew up into this big thing," he said.

Now, when you visit Gordon Skagit Farms, you can buy one of over 150 varieties of pumpkins, wreaths made with dried flowers grown on the farm, as well as go through a corn maze, walk through a garden, and take pictures in front of the many hand-painted murals.

"People come here for the fall experience," Gordon said.

He says they expand Gordon Skagit Farms' offerings every year to meet demand that skyrocketed during the pandemic.

"Everyone wanted to be outside and they wanted to spend time with their family and experience everything. And I think since then, we've actually, we've blown up a lot more than what we have in the past," said Gordon.

What the Gordon family has seen play out on their farm matches consumer trends.

While Halloween spending is predicted to be down a bit over all in 2024, it's grown significantly since the pandemic, as has the number of people participating.

According to the National Retail Federation, Halloween spending this year will hit $11.6 billion, less than 2023's $12.2 billion, which was a record. This year's spending is still up from 2022's $10.6 billion.

This year 72% of consumers plan to celebrate the holiday, similar to last year's 73%. They will spend about $4 less this year than last, but retailers aren't too worried about that.

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"We're seeing consumers consistently over the last several years, spending over $100 on average on their Halloween celebrations and really viewing this holiday as a time to celebrate fall," said Katherine Cullen, vice president for industry and consumer insights at the National Retail Federation.

Different from last year, the National Retail Federation says more consumers started their Halloween shopping earlier this year — their biggest reason being that they were looking forward to fall.

They're also going to be looking for a deal – Advantage reports that 46% of shoppers will be looking for deals on candy.

Jason Katz, vice president of strategic planning at Advantage, says this shows that more people are getting emotionally attached to the holiday and unwilling to give up on making seasonal memories.

"People are willing to spend more, despite recession across categories," said Katz. "It just echoes that, you know, Halloween is just not one of those things they're willing to sacrifice on."

Experts say this need for nostalgia and making memories is tied to the pandemic and consumers ever since wanting to spend money on experiences.

"So you saw a lot of people buying decorations, creating socially distanced trick or treating, really embracing the joy and fun of this holiday at a time when a lot of people were dealing with some heavy stuff. And we're seeing that continue today," said Cullen.

"I'm always happy that people get to come here and make memories with their families. And then they tell me about their memories," said Gordon.

It's that emotional connection to the season families have that make Gordon happy to be in the business of making memories, along with making a living, during the Halloween season.

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