As autumn settles in and storefronts fill up with eerie displays, ghosts, and plastic pumpkins, a new financial reality is casting a shadow over the festive season. Nearly two-thirds of American shoppers plan to skip or cut back on various purchases this year, choosing to bypass traditional seasonal staples such as costumes, candy, and festive home decor. According to a recent LendingTree survey, persistent economic pressures and rising consumer costs are forcing households to drastically rethink their seasonal spending habits, turning what is normally a carefree, candy-filled holiday into an exercise in strict budgeting.
While the appeal of Halloween remains strong across generations, the willingness and ability to fund the festivities vary dramatically depending on age and financial stability. The data reveals a stark generational divide when it comes to financing the spooky season. Younger consumers, in particular, appear willing to absorb financial hits to maintain holiday traditions, often relying on credit to bridge the gap between their desires and their bank accounts.
Roughly four in 10—specifically 43 percent—of Generation Z respondents stated that they are likely to take on Halloween debt this year to cover their expenses. Millennials follow closely behind, with 35 percent admitting they expect to borrow or carry a balance to pay for their celebrations. By contrast, older generations are exercising far more financial caution. Only 14 percent of Generation X consumers and a mere 2 percent of baby boomers reported that they would likely take on debt for Halloween, highlighting a cautious approach among older demographics who are prioritizing long-term financial security over seasonal thrills.
The consequences of financing holiday fun are already weighing heavily on those who rely on credit. Among the respondents who acknowledged taking on debt to fund their Halloween purchases, more than half—51 percent—admitted that they ultimately regret overspending. When asked why they exceeded their initial budgets, these overextended shoppers pointed to two primary drivers: the intense social pressure to keep up appearances and participate fully in the cultural moment, and much higher-than-anticipated prices across retail categories.
These consumer complaints about soaring prices are backed up by hard economic data. The cost of goods associated with seasonal celebrations and family fun has climbed noticeably in the months leading up to the holiday. Children’s toys, a staple category that overlaps significantly with seasonal gift-giving and celebratory purchases, saw a dramatic price surge between late summer and early fall. According to figures from the U.S. Bureau of Labor Statistics’ Consumer Price Index, toy prices jumped 4.2 percent between August and September alone. When compared to the same period a year prior, unadjusted figures show that toy prices escalated by an even steeper 6.6 percent, reflecting broader inflationary trends that continue to erode household purchasing power.
In response to these escalating costs, a significant portion of holiday shoppers have proactively altered their buying strategies. Many consumers are taking full advantage of promotional discounts and kicking off their shopping much earlier in the year in an effort to stretch every dollar as far as possible. This preemptive approach underscores a broader sense of financial insecurity gripping the nation. Nearly half—45 percent—of respondents in an Ibotta survey indicated that they feel financially insecure, while more than 70 percent stated that their primary focus right now is actively saving money rather than spending it on non-essential items.
Despite the widespread caution, a baseline of consumer confidence still exists for routine holiday spending. Roughly seven in 10 shoppers surveyed reported that they can comfortably afford their basic Halloween purchases without straining their finances. However, underlying anxiety about the broader macroeconomic landscape remains pervasive. According to a Deloitte survey encompassing 1,500 U.S. shoppers, roughly four in 10 consumers—about 42 percent—anticipate that the overall economy will deteriorate further in the year ahead. This lingering pessimism is actively shifting where and how people shop for the holiday.
Faced with tighter budgets and economic uncertainty, consumers are increasingly seeking out value-driven retail environments. The Deloitte survey revealed that more than half of all holiday shoppers are buying their Halloween items at traditional grocery stores, while 40 percent are turning to discount retailers to secure better deals on costumes, candy, and decorations. This shift toward value-oriented shopping is further corroborated by data from the National Retail Federation, which found that nearly four in ten—39 percent—of consumers specifically cited discount stores as their absolute top destination for purchasing Halloween products this season. As retailers navigate this shifting landscape, the focus for both buyers and sellers has clearly shifted from extravagant celebration to careful, budget-conscious participation.