Fewer Budget Conscious Consumers Participating in Halloween Spending according to New Survey
More than 40 percent plan to spend nothing on Halloween items, while over 30 percent of individuals polled by ACCC say they make DIY Halloween costumes and decorations.
(Boston, MA) – October 30, 2015 – Some Americans aren’t afraid to say no to big spending on Halloween – even as consumers nationwide were expected to pay close to $7 billion in 2015 on items related to Halloween festivities.
A new survey of budget-conscious consumers by American Consumer Credit Counseling found that almost 47 percent of those surveyed said they planned to spend no money on Halloween items this year. Another 33 percent said they would spend $50 or less – well below the projected average per capita of $74, according to the National Retail Federation. In addition, 31 percent of consumers surveyed said they expected to save money and make Do-It-Yourself Halloween costumes and decorations this year.
About 59 percent of consumers surveyed in the ACCC poll said they would buy Halloween candy this year, with many spending $25 or less. Among the surveyed consumers who do spend on Halloween, more than 80 percent fail to include Halloween expenses in their budget.
“While Americans spend billions of dollars on Halloween every year, this survey shows that budget conscious consumers are cautious about the amount of money they plan to spend on Halloween items this year,” said Steve Trumble, President and CEO of American Consumer Credit Counseling, which is based in Newton, Mass. “Even relatively small Halloween costs can add up, so it is surprising that the majority of consumers do not include Halloween expenses in their budget.”
The online poll of 189 consumers was conducted at ConsumerCredit.com by American Consumer Credit Counseling, a national non-profit that helps consumers with budgeting, financial education and debt management.
You can view an infographic illustrating the poll results here.
Across the country, more than 150 Americans will celebrate Halloween this year, according to the National Retail Federation’s Halloween Consumer Spending Survey. The average person celebrating will spend $74.34, down just over three dollars from last year, according to the same survey. Total Halloween spending is expected to soar to $6.9 billion in the U.S. this year.
ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:
- For credit counseling, call 800-769-3571
- For bankruptcy counseling, call 866-826-6924
- For housing counseling, call 866-826-7180
- Or visit us online at ConsumerCredit.com
About American Consumer Credit Counseling
American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management and debt relief through education, credit counseling, and debt management solutions. Each month, ACCC invites consumers to participate in a poll focused on personal finance issues. The results are conveyed in the form of infographics that act as tools to educate the community on everyday personal finance issues and problems. By learning more about financial management topics such as credit and debt management, consumers are empowered to make the best possible financial decisions to reach debt relief. As one of the nation’s leading providers of personal finance education and credit counseling services, ACCC’s certified credit advisors work with consumers to help determine the best possible debt solutions for them. ACCC holds an A+ rating with the Better Business Bureau and is a member of the Association of Independent Consumer Credit Counseling Agencies. To participate in this month’s poll, visit ConsumerCredit.com and for more financial management resources visit TalkingCentsBlog.com.