Halloween Spending Surpasses Thanksgiving, Reaches $300 for Many
News related to:CIT Bank · 2 min read
RALEIGH, N.C., Oct. 7, 2026 /CourierPR/ -- Halloween spending is on the rise, with Americans planning to outspend the $210 overall average, according to a new survey by CIT Bank. The survey, which polled more than 1,000 U.S. adults conducted by Researchscape International, found that 38% of Americans plan to spend $300 or more on Halloween, compared with 19% for Thanksgiving and 11% for New Year's Eve or New Year's Day.
Millennials and Gen Z are leading the charge, with plans to outspend the overall average. Millennials are expected to spend $270 on Halloween, while Gen Z plans to spend $308. More than half (54%) of those surveyed plan to spend $200 or more, compared with 39% for Thanksgiving and 23% for New Year's.
The heightened spending is not without its challenges. As 63% of respondents say they are more price-sensitive about Halloween costs than they were last year, many are already preparing. Sixty-one percent of those surveyed begin shopping before October, with 42% starting in September. This early preparation is driven by a desire to balance personal creativity (36%) and recommendations from friends and family (35%).
Savvy shoppers are finding creative ways to cut costs. Seventy-one percent would buy candy in bulk, while 62% would shop at discount or dollar stores. Thirty-nine percent would make their own decorations, 38% would reuse or swap a costume, and 30% would make their own costume. Among Millennials, 45% would make decorations and 36% would make costumes.
Younger generations are prioritizing personal expression and shareable digital content. Seventy-one percent of Gen Z respondents spend on costumes for themselves, compared with 53% of all adults surveyed. Fifty-two percent of Gen Z and Millennials would pay more for a costume to drive social media engagement, versus 38% overall. Among Gen Z, 37% would spend more than $100 on that kind of costume.
Halloween budgets are being allocated across various categories. Beyond candy, which accounts for 92% of spending, outdoor decorations (67%) and home or party décor (65%) rank as the most common spending categories. Forty-six percent plan to put $100 or more toward experiences such as haunted houses or hayrides, and 42% plan to spend at least $50 on candy.
Families and pets are also part of the Halloween budget. Twenty-three percent plan to spend $200 or more on costumes for their families, compared with 4% who would spend that much on costumes for themselves. More than one-quarter (26%) are budgeting $40 or more for pet costumes.
Social media and artificial intelligence are influencing costume ideas. Sixty-two percent of Gen Z respondents turn to social platforms for costume inspiration, more than double the 29% rate for the full sample. Pop culture guides 39% of Gen Z, compared with 24% overall, and 20% of Gen Z use artificial intelligence when developing costume ideas. Twenty-nine percent of Gen Z and 26% of Millennials want their costume to represent a current event or viral moment.
CIT Bank offers online savings accounts and certificates of deposit to help customers set aside money for seasonal celebrations and longer-term goals.