Most Parents to Spend More on Halloween to Make Up for a Stressful 2020: Survey

10/26/20

By Maeve Sheehey, NC Biz News

Most American parents with children under 18 plan to spend more on Halloween in 2020 to make up for a disappointing year, according to LendingTree survey results released Monday.

Although the Covid-19 pandemic will force many families to stay inside for the holiday or drastically alter their plans, 71 percent of parents indicated that they are spending more to compensate for a year of celebrations menaced by the virus.

Over a third of parents surveyed said they subscribed to a new streaming service for Halloween content, while an additional 21 percent said they are considering doing this.

While this survey indicates that Covid-19 could hike up Halloween spending, more than half of Americans said they spent more than they could afford on the holiday in the past. The majority of these people said they did it because they wanted their decorations to compare to their neighbors, or because they wanted to make their kids happy.

LendingTree Chief Credit Analyst Matt Schulz said in a statement that 2020 has been a stressful year for most Americans, with disappointments and challenges including remote learning, the need for social distancing and canceled vacations.

“With the uncertainty around Halloween and Trick-or-Treating, it makes sense that parents want to go above and beyond to make the holiday season extra-special, for both their children and themselves,” Schulz added.

While Americans with higher incomes are most likely to spend more on Halloween this year, the bulk of Americans making $25,000 or less also reported the same. Dads indicated they are more likely to spend more on Halloween this year than moms.

Additionally, over a third of consumers said they purchased Halloween items specifically for social media — 57 percent of men, compared to 18 percent of women.

LendingTree, a Charlotte-based online lending marketplace, commissioned Qualtrics to conduct the online survey. Over 1,000 consumers in the U.S. were surveyed in early October.

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