CHARLOTTE, N.C., Oct. 19, 2021 /PRNewswire/ -- LendingTree
asked over 2,000 Americans about their Halloween spending plans,
including whether or not they think they'll go into debt for
Halloween-related expenses, if they plan to skip on spending money
on the holiday this year due to the pandemic and what they plan to
buy if they're splurging.
Key findings
- 75% of Americans will spend money on Halloween this
year. The most common purchases include candy (53%),
pumpkins and carving supplies (24%), outdoor decorations (22%) and
costumes for kids (20%).
- 24% of parents with kids under 18 will spend more than they
can afford, and 41% are planning a special splurge. Their
primary reason for overspending is to make their children happy
(47%).
- Gen Zers will also spend big for Halloween, with 57%
splurging and 23% spending more than they can afford. That
generation's main motivator was fear of missing out (29%).
- Social media is another big motivator for Halloween
spending. Gen Zers (60%), parents of kids under 18 (52%)
and women (41%) all say they buy Halloween-related items in order
to include them in social media posts.
- Watching a scary movie and buying Halloween treats are the
top two ways Americans will celebrate the holiday (both
32%). On the other hand, 12% say they won't partake in
Halloween due to COVID-19.
"Throughout the pandemic, we've heard of people going above and
beyond when it comes to holidays and other events to make up for
how crummy the last couple of years have been," said Matt Schulz, LendingTree's credit card expert.
"Don't let your big Halloween blowout turn into debt, though. One
evening of fun isn't worth it if it is followed by months of
debt."
To view the full report,
visit: https://www.lendingtree.com/credit-cards/study/halloween-spending-survey/.
Methodology
LendingTree commissioned Qualtrics to
conduct an online survey of 2,050 U.S. consumers from Sept. 23 to Sept. 30, 2021. The survey was
administered using a nonprobability-based sample, and quotas were
used to ensure the sample base represented the overall population.
All responses were reviewed by researchers for quality control.
About LendingTree
LendingTree (NASDAQ: TREE) is the
nation's leading online marketplace that connects consumers with
the choices they need to be confident in their financial decisions.
LendingTree empowers consumers to shop for financial services the
same way they would shop for airline tickets or hotel stays,
comparing multiple offers from a nationwide network of over 500
partners in one simple search, and can choose the option that best
fits their financial needs. Services include mortgage loans,
mortgage refinances, auto loans, personal loans, business loans,
student loans, insurance, credit cards and more. Through the
LendingTree platform, consumers receive free credit scores, credit
monitoring and recommendations to improve credit health.
LendingTree proactively compares consumers' credit accounts against
offers on our network and notifies consumers when there is an
opportunity to save money. In short, LendingTree's purpose is to
help simplify financial decisions for life's meaningful moments
through choice, education and support. LendingTree, LLC is a
subsidiary of LendingTree, Inc. For more information, go to
www.lendingtree.com, dial 800-555-TREE, like our Facebook page
and/or follow us on Twitter @LendingTree
MEDIA CONTACT:
Morgan
Lanier
morgan@lendingtreenews.com
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SOURCE LendingTree.com