By Annmarie H. Akpan
Baltimore Watchdog Staff Writer
Halloween, a simple occasion for children to dress up and collect candy, has transformed into a multi-billion dollar industry. From costumes and decorations to parties and events, Halloween spending has reached higher levels, making it an exciting subject to explore.
According to a recent report by BBC News, Americans are expected to spend $12 billion on Halloween in 2023, signifying the significant impact of this holiday on the economy. As Halloween approaches, the surge in spending can be attributed to various factors, including the desire for individuals to engage in their fantasies and the evolution of the Halloween industry.
Harriet Berlin, the owner of Artistic Costumes & Dance Fashions, a local Halloween store, believes that Halloween allows people to let their guard down and indulge in their imaginations. In The interview, Berlin stated, “Halloween is a time where people can let their guard down; people will spend money to engage in their fantasies.” This desire for escapism drives consumers to spend more during Halloween than on other holidays or occasions.
The Halloween industry has witnessed significant growth over the years, primarily due to the ever-growing content that people consume, according to Kameron Saldivia, a junior at Towson University.
Saldivia said, “I think the Halloween industry has evolved with the ever-growing content people have been consuming. Halloween is a time, despite religious beliefs, for kids to dress up and get candy – it’s what makes it fun for me. Even as an adult, I still find ways to make Halloween enjoyable.” The availability of consumer content and the influence of social media have played pivotal roles in the growth of the Halloween industry. With more inspiration readily accessible, people are finding innovative ways to celebrate and spend on Halloween.
As Halloween continues to gain popularity, the impact on the economy becomes more evident. The $12 billion projected spending in 2023 demonstrates the significant contribution of this holiday to various sectors. The Halloween industry encompasses costume stores, candy manufacturers, party supply retailers, haunted attractions, and more.
As individuals seek opportunities to escape reality and immerse themselves in the holiday spirit, businesses across various sectors benefit from the surge in consumer spending. With the evolution of content consumption and the influence of social media, the Halloween industry is poised for further growth in the coming years.