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Halloween spending creeps up this year

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Halloween spending creeps up this year

While budgets for the holiday increase, one in five shoppers plan to use buy now, pay later or other financing services, according to Deloitte.

Though some consumers say they have no problem paying for their Halloween purchases, others are financing their purchases to stretch their budgets amid a shaky economy, Deloitte found.

About seven in 10 shoppers said they can comfortably afford their Halloween expenditures. However, while nearly six in 10 (58%) said they expect the economy to remain stable or improve, 42% anticipate the economy worsening in the year ahead. Furthermore, one in five Halloween shoppers will use BNPL services or other financing to pay for their purchases, according to the survey.

Many consumers have already begun shopping for Halloween. Over half (56%) of shoppers said they planned to make Halloween purchases by the end of September, and about a third (37%) of respondents planned to finish most of their shopping before Oct. 1, the survey found.

In addition to Deloitte’s report, other research suggests that Halloween shoppers plan to spend more this holiday season and kick off their shopping errands early. Shoppers are predicted to spend $13.5 billion on Halloween this year, up from $13.1 billion the year prior, according to a report from the National Retail Federation. About half (49%) of shoppers surveyed by the NRF said they planned to shop for Halloween in September or beforehand.

That uptick in consumer spending could continue into this year’s holiday season. 5% from the year prior.



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