Trick-or-Treat-onomics

57% of Americans say higher chocolate prices are impacting their Halloween candy spend this year.

Over half of Americans (57%) say rising chocolate prices are changing how much they dish out for candy. A third consider Halloween one of the costliest times of the year, and Americans plan to spend an average of $296 between costumes, decor and entertainment in 2025, while Millennials and Gen Z plan to spend almost double ($522, $435 respectively). Yet despite the price tag, 51% say Halloween is one of their favorite holidays, and nearly six in ten (57%) say the memories they make with friends and family on October 31st are priceless.

Key Takeaways

Candy crush: 57% of Americans say the rising price of chocolate is changing how much they spend on Halloween candy. More than a third (35%) say candy is more expensive this year (46% Boomers).
Spooky spending: The average American plans to spend $296 on Halloween this year—but Millennials and Gen Z are spending double ($522 and $435 respectively) while Gen X and Boomers will spend the least ($325 and $89, respectively).
Trick-or-Treat tradeoffs: More than half (52%) are cutting back on Halloween spending overall due to inflation, though 39% say they overspend each year, with Millennials (52%) and Gen Z (48%) most likely surpass their budgets.
Phantom pressures: Half agree parents today feel pressured to spend more on Halloween than past generations (54%). Almost a third (31%) say they end up spending more when they see friends or family doing so, even if it’s beyond their means (53% Gen Z, 50% Millennials).
Fido frights: 23% of Gen Z and Millennials will buy costumes for their pets, even if it costs extra (18% overall); Americans plan to spend an average of $33 on Halloween costumes for their pets.
Unmasking AI: A quarter (24%) of younger generations will use AI to find the best deals on candy, costumes or decorations. Gen Z and Millennials will use it to generate costume ideas (25%). More than 1 in 5 Millennials will use it to help plan fall or Halloween themed-travel (21%).
Happy Halloween: Despite the costs, 51% say Halloween is one of their favorite holidays, and 57% say the memories made are priceless.

Spooky spending

Five in 10 are cutting back on Halloween spending overall due to inflation (52%), though 39% of Americans say they overspend each year, highest among Millennials (52%) and Gen Z (48%). More than half of Americans (54%) believe parents today feel pressured to spend more on Halloween than past generations. Almost a third (31%) say they end up spending more when they see friends or family doing so, even if it’s beyond their means (53% Gen Z, 50% Millennials).

Overall, Americans expect to spend an average of $296 this Halloween, including:

Candy: $58
Children’s costume(s): $56
Adult costume(s): $46
Pet costume(s): $33
Home and yard decorations: $52
Parties and entertainment: $51

Millennials and Gen Z will spend the most ($522 and $435 respectively), while Gen X and Boomers will spend the least ($325 and $89, respectively). Most shoppers will start looking for Halloween items in September (39%) and October (43%), despite the rise of retailers offering “Summerween.”¹Though, close to 1 in 5 Millennials start shopping for Halloween in August (16%). Two in 5 (40%) say they look forward to Halloween shopping more than shopping for other holidays (61% Millennials, 56% Gen Z).

“Some consumers may be ghosting chocolate this Halloween as prices creep higher. Trick-or-treat spending offers a peek into how pricing pressures are shifting budgets and filtering into the smallest traditions."

Rebecca Rickert, head of communications and consumer insights at Empower

Tricks to save on treats

More than a third (35%) say candy is more expensive this year (46% Boomers) and 19% are spending less on candy now because of rising prices and inflation. One in 5 end up spending more than they planned on Halloween candy (21%), even though they budget a set amount for it (20%).

Rising costs are leading to new candy strategies:

38% hunt for sales, coupons or bulk deals to save money on Halloween candy
22% buy Halloween candy before October to spread out the cost
31% admit they buy extra, knowing they’ll eat it themselves

Still, some 35% say they’ll splurge for full-sized candy bars, even though it costs more.

The cost of costumes

Social media also influences 29% of people to spend more on costumes, decor or events. To save money, close to a quarter say they often reuse or recycle costumes from past years (22%) or shop at thrift stores/discount retailers for Halloween looks (22%). One in 5 prefer to DIY or make costumes at home (20%). Close to a quarter (23%) of Gen Z and Millennials buy costumes for their pets, even if it costs extra (18% overall).

Unmasking AI

A quarter (24%) of younger generations will use AI to find the best deals on candy, costumes or decorations. Gen Z and Millennials will use it to generate costume ideas (25%). More than 1 in 5 Millennials will use it to help plan fall or Halloween themed-travel (21%).

Fear and fun: the experience economy

Even with tighter budgets, Americans want Halloween to feel memorable: 45% say they’d rather spend on experiences like trips or parties than decor. This year, Americans are opting for pumpkin patches or harvest festivals (31% overall; 41% Gen Z, 39% Millennials), Halloween parties (23% overall; 39% Millennials, 35% Gen Z), and Halloween theme parks or haunted houses (21% overall; 37% Millennials, 35% Gen Z).

More than a third (35%) plan to hand out candy to trick-or-treaters, while 27% will be watching Halloween movies or streaming spooky content. About a quarter say they’ll decorate their homes or yards (25%) or carve pumpkins (23%), and just over 1 in 5 (21%) will bake or cook Halloween-themed treats. Another 18% are heading out for seasonal activities like haunted houses, corn mazes, or hayrides. When paying for these Halloween experiences or purchases, half of Americans will use a credit card to pay (50%), while 25% will use Buy Now, Pay Later (BNPL) (42% younger generations).

Methodology:
Empower’s “Trick-or-Treat-onomics" study is based on online survey responses from 2,000 Americans ages 18+ from September 10-16, 2025.

1 CBS News, “Welcome to "Summerween," a blend of summer vibes and Halloween fun,” August 2025.

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