Americans Plan Higher Halloween Spending Than Thanksgiving: CIT Bank Survey
A new CIT Bank survey reveals that Americans are planning to spend more on Halloween than they do for Thanksgiving or New Year’s Eve. Thirty-eight percent of respondents expect to spend $300 or more, compared with 19% for Thanksgiving and 11% for New Year's events. The average expected spending is $210 overall, but Millennials ($308) and Gen Z ($270) are projected to outspend other age groups significantly. Despite higher planned expenditures, many consumers report being more price-sensitive this year than last, with 63% noting increased Halloween cost awareness. To manage expenses, shoppers are starting earlier—42% begin in September—and using strategies like bulk candy purchases and DIY decorations. Younger generations also prioritize social media engagement through costumes, often spending extra for shareable outfits or viral themes. The survey highlights a shift toward experiences such as haunted houses (46%) and pet-related expenses ($50+ on pet costumes by 26%). CIT Bank encourages early budgeting using high-yield savings accounts to help manage seasonal costs while maintaining financial goals.
Topics: budgeting consumer spending Gen Z Halloween Millennials