CHARLOTTE, N.C., Oct. 26, 2020 /PRNewswire/ -- Can going
overboard on Halloween make up for a less-than-spectacular year?
Probably not, but according to a new LendingTree survey, most
parents are going to give it a try.
The survey reveals that nearly 3 in 4 parents with kids under 18
say they're planning to spend more on this Halloween in part
because their kids have already missed out on so many other
celebrations in 2020 because of the COVID-19 pandemic.
For many, however, it won't be the first time going overboard on
Halloween. More than half of Americans admit to spending more than
they can afford on the holiday at some point in the past.
Full report:
https://www.lendingtree.com/credit-cards/halloween-spending-report-2020/
Key findings:
- Nearly 3 in 4 (71%) parents with kids under 18 said they're
spending more on Halloween this year because their kids have
already missed out on so many other celebrations in 2020.
- More than half (54%) of Americans admit to spending more on
Halloween than they can afford at some point in the past. The
most common reason: They wanted their decorations to look as good
as their neighbors'.
- More than a third of consumers (34%) say they signed up for
a new streaming service purely for Halloween content.
- 38% of consumers have purchased Halloween items specifically
for social media this year, and men (57%) are far more likely
to have done so than women (18%).
"I think it is safe to say that 2020 has been a stressful year
for most Americans. The toll that the coronavirus crisis has taken
on the country's physical, emotional and financial health has been
nothing short of staggering," said LendingTree's Chief Credit
Analyst, Matt Schulz. "Between
remote learning, social distancing measures, cancelled vacations,
and fewer extracurriculars, parents and children alike have
faced a lot of disappointment and unexpected difficulties in 2020.
With the uncertainty around Halloween and Trick-or-Treating, it
makes sense that parents want to go above and beyond to make the
holiday season extra-special, for both their children and
themselves."
To help offset some of the year's disappointments and cancelled
celebrations, our survey shows that many parents are looking to
Halloween to help create a much-needed bright spot in an otherwise
dark year.
To view the full report, visit:
https://www.lendingtree.com/credit-cards/halloween-spending-report-2020/
Methodology
LendingTree commissioned Qualtrics to
conduct an online survey of 1,034 consumers in the U.S., with the
sample base proportioned to represent the overall population. The
survey was fielded Oct. 2-6,
2020.
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 My
LendingTree platform, consumers receive free credit scores, credit
monitoring and recommendations to improve credit health. My
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