Now you see it, now you don’t.
Some concerns about a hard landing may have vanished after U.S. retail sales figures showed a modest increase in September, up 0.4%.* After all, consumer spending is the backbone – er, skeleton – of the economy.
Americans are treating themselves this Halloween, spending a projected $11.6 billion on the holiday. Yet, that number is 5% less than the $12.2 billion that consumers dished out last year, as forecasted by the National Retail Federation.
The dip in spending may be due to some tricky pricing pressures: Over 3 in 4 Americans (78%) are using more of their budget on essential items, according to Empower research.
– The Editors
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🌕 Full moon: The astronauts on NASA’s Artemis III mission (liftoff: September 2026) will moonwalk in style, wearing spacesuits designed by Axiom Space and Prada. The designs pay homage to legacy spacesuits while incorporating new technology and better protection from the lunar environment. Axiom landed its first Artemis contract in 2022 for
$228.5 million.* For those shooting for the moon, the secret may be in your inner orbit: 31% of Americans say they owe the job they have now – and the salary they make (29%) – to their personal network, according to Empower research.
🎃 Hey there, pumpkin: It’s gourd vibes only for the 2,471-pound* pumpkin that won the 51st annual weigh-off held in Northern California. The Minnesota horticulture teacher (who’s won four years in a row) took home a cash prize of $22,239,*
amounting to about $9 per pound. While pumpkin prize money may not be in the cards for everyone, Empower research shows that a little windfall can do wonders: For 42% of Americans,
$25,000 would boost their financial happiness for six months.
🏠 Haunted houses: Trade association America Haunts estimates that the haunted attractions industry, including Halloween events at amusement parks, brings in between $300-$500 million from ticket sales.* In good news for the IRL housing market, the borrowing rate for a 30-year home loan is getting less spooky, dropping to its lowest in the last two years, though the median price for a home nationwide is still up by
3-5%*
from this time last year. Empower research shows 33% of Americans (and 42% of Millennials) say the winner of the Presidential election will make it more affordable to buy a home.
🐶 Canine costumes: While overall Halloween spending has decreased this year, tails are still wagging for pet costumes, with spending expected to remain steady at $700 million.* Looking for more style for your pup? Crocs and BARK partnered together to launch limited-time dog clogs for the footwear brand’s “Croctober” campaign.*
A set of four mini Crocs will
cost $50* and a human pair is available separately for $60. With 94% of Americans viewing their pets as a part of their family, according to Empower research, it’s no wonder 1 in 3 say they buy more items for their furry friends than they do for themselves.
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Putting the “$” in $easonal
Spirit Halloween started recruiting up to 50,000 associates* in June to staff 1,500 storefronts that opened in August. In addition to flexible scheduling and a premium pay incentive program, Spirit Halloween employees also get 30% discounts on purchases made at the store.
When it comes to a “workplace wishlist,” Empower research reveals nearly half of Americans (49%) wouldn’t accept a new role without flexible or remote work options, while others’ job non-negotiables include 401(k) matching (56%), access to retirement plans (42%), and unlimited PTO (19%).
Halloween shopping started early this year, with ghoulish decor hitting the shelves in April and pumpkin-themed products – yielding $500 million annually – returning in the middle of summer. Soon, the leading Halloween retailer will open 10* "Spirit" holiday stores for the first time, trading costumes and creepy animatronics for stockings, gift supplies, and more.
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Monster candy bag remix
Americans are projected to spend $3.5 billion on candy this Halloween; with just a 1.4% price increase from August 2023 to August 2024.
More good news for those with a sweet tooth: In addition to the usual seasonal flavors that candymakers introduce for Halloween and the following holidays, two brands* are debuting new permanent flavors: KitKat introduced a vanilla version of its chocolate wafer, while M&M’s is debuting a peanut butter and jelly flavor, reminiscent of the childhood staple. The first new flavor since 2022*
will be available for snackers in December.
Mars, the maker of M&M’s, Skittles, and Dove chocolate, had a revenue of $50 billion* in 2023. Frequent buyers of junk food and snacks spend an average of $90 a month treating themselves, according to an Empower study.
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🆘 Boo! It can be scary not knowing how to pay for an unforeseen circumstance. Nearly 2 in 5 Americans say they can’t afford an emergency expense of more than $400 – and over 20% have no emergency savings at all. Building a safety net of
three to six months' worth of expenses can help bring peace of mind knowing that you’ll be more prepared for a rainy day.
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Are you afraid of the dark?
“Scream tourism” is becoming increasingly popular as those who find joy in fear entertainment visit haunted houses and other spine-chilling locations.
Salem, Massachusetts, nicknamed Witch City, welcomed 1.2 million tourists* during the five weeks leading up to Halloween last year. Visitors bring in $140 million annually* to Salem’s local economy. In Missouri, the Haunted Castle House, one of the state’s older buildings, generates about
a third of its annual revenue* during the month of October, as Halloween enthusiasts book tours and events.
Some 47% of Americans (and 52% of Gen Z) are most likely to splurge on experiences while traveling, according to Empower research, while 41% choose to dish out more on lodging. Those who dare to stay overnight at a creepy hotel have options at different price points, from $50 a night*
at the Clown Motel in Tonopah, Nevada, or over $400 a night at the Stanley Hotel in Estes Park, Colorado.
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The content contained in this newsletter is intended for general informational purposes only and is not meant to constitute legal, tax, accounting or investment advice. You should consult a qualified legal or tax professional regarding your specific situation. Keep in mind that investing involves risk. The value of your investment will fluctuate over time and you may gain or lose money.
*Third-party data is obtained from sources believed to be reliable; however, Empower cannot guarantee the accuracy, timeliness, completeness, or fitness of this data for any particular purpose. Third-party links are provided solely as a convenience and do not imply an affiliation, endorsement, responsibility, or approval by Empower of the contents on such third-party websites.
Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries. This material is for informational purposes only and is not intended to provide investment, legal, or tax recommendations or advice.
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