Halloween is no longer a spooky event. It’s not just about kids dressing up as ghosts and ghouls and going trick-or-treating. Halloween has transformed into more of a party time. Per NRF, Halloween spending in 2024 is expected to reach $11.6 billion, after last year’s record-setting $12.2 billion and 2022’s spending of $10.6 billion.

About 72% of consumers plan to celebrate this day in 2024, slightly down from 73% in 2023 but up from 69% in 2022. Per-person spending is likely to be $103.63 versus $108.24 recorded in 2023 and $100.45 recorded in 2022. Enthusiasm has been noticed among early shoppers as they are looking forward to the fall season (48%), avoiding the stress of last-minute shopping (38%) or because Halloween is one of their favorite holidays (37%), per NRF.

As retailers brace for the holiday season, many are planning to boost sales early by flaunting a wider assortment of Halloween merchandise. Halloween gives people an opportunity to get into the holiday spirit with relatively cheap celebrations before Thanksgiving and Christmas. The enthusiasm around Halloween this year also comes on the heels of low interest rates due to a jumbo Fed rate cut in September.

The top ways consumers plan to celebrate include handing out candy (67% versus 68% in 2023 and 67% in 2022), decorating their home or yard (52% versus 53% in 2023 and 51% in 2022), dressing up in costume (49% versus 50% in 2023 and 47% in 2022) and throwing or attending a Halloween party (29% versus 32% in 2023 and 28% in 2022). About 43% will carve a pumpkin.

Stock Picks

Mondelez International (MDLZ)

Candy and chocolate sales are hot leading up to Halloween. Spending on candy is expected to reach $3.5 billion. Mondelez International is one of the leading global snack companies. Its product categories include chocolates; biscuits (cookies, crackers and salted snacks); gum and candy, beverages and cheese & grocery products.

Home Depot (HD)

Total spending on decorations is expected to hit $3.8 billion. Home Depot often loads a wide range of spooky lawn ornaments, including giant mummies and skeletons. It offers a diverse range of branded and proprietary home improvement items, building materials, lawn and garden products, décor products and related services. Home Depot is expected to report earnings on Nov. 12, 2024.

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Dollar General (DG)

Discount stores (37%) are expected to become the top destination to buy Halloween items. Note that discount store Dollar General is gearing up for Halloween 2024 with a wide selection of spooky-themed items, including decorations, costumes, and candy. Additionally, there are several candy promotions are going on right now.