#USA #Raleigh #Gen Z #Halloween #CIT Bank

The Rising Popularity of Halloween Among Young Americans

Halloween continues to capture the imagination of people across the United States, with a notable surge in enthusiasm among younger generations. A recent survey from CIT Bank reveals that 93% of Gen Z, aged 18 to 28, and 87% of Millennials, aged 29 to 44, are eagerly preparing to celebrate Halloween in 2025. This revelry is not just about fun; it's significantly driving consumer spending, especially among the youth.

Spending Overview

The survey, conducted by Harris Poll, indicates that Americans have allocated considerable funds to the spooky season. On average, households participating in the festivities anticipate spending approximately $420—an indication of the holiday's growing importance. Specifically for the Gen Z demographic, the planned expenditure skyrockets to an impressive average of $622. This marks the highest spending level among all age groups surveyed. In stark contrast, older generations such as Boomers, aged 61 and older, report an average budget of just $93, highlighting a generational divide in Halloween spending habits.

Young families are forecasted to spend even more, with households with children planning an average of $652, compared to just $215 for those without. This trend clearly reflects the familial aspect of the holiday, where parents often go the extra mile to ensure their children's experiences are memorable and festive.

The Essential Halloween Elements

Dress-up remains a core component of the Halloween celebration. Among those planning to celebrate, 52% of parents with children indicate they will wear costumes, while 29% of those without kids also plan on participating in the costume tradition. Anticipated spending on costumes is around $58 for individuals and an average of $87 for families. The pet costume market is gaining traction as well, with a noteworthy 33% of adults planning to buy outfits for their pets, spending an average of $22. Interestingly, among those celebrating, 50% intend to purchase pet costumes, contributing an impressive average of $50 per pet—more than double what the average American spends.

Candy purchases also play a vital role in Halloween celebrations. While only 24% of respondents are willing to compromise and opt for cheaper candy options, 57% show an inclination to buy in bulk to optimize their candy investment. After all, a well-stocked candy bowl can make a lasting impression on trick-or-treaters.

Financial Preparedness for Halloween

For many, the excitement of Halloween can sometimes clash with fiscal caution. To mitigate financial strain, childcare experts recommend establishing a holiday fund, where individuals set aside money specifically for seasonal festivities. Jose Castro, head of CIT Bank, emphasizes the importance of systematic savings; using a high-yield savings account can help enthusiasts enjoy the holiday without incurring unnecessary debt or financial stress.

By consistently depositing into a dedicated savings account, participants can indulge in the joys of the season—whether by creating memorable costumes or crafting elaborate decorations—while still being mindful of their budgeting goals. With an estimated participation spanning across multiple demographics, Halloween is becoming an integral part of cultural celebration.

Conclusion

As it stands, Halloween is solidifying its status not only as a playful holiday but also as a significant economic event, particularly among young Americans. The trend indicates a vibrant future for festive spending, as the spirit of Halloween energizes communities, families, and individual revelers who see value in investing in joyful experiences. As this culturally rich holiday approaches, the excitement surrounding it promises memorable moments and cherished memories for generations to come.