Tariffs could create scary prices on some of your Halloween favorites this year, from skeletons to pumpkins and costumes.
But that isn’t deterring shoppers. The National Retail Federation expects Halloween spending to hit a record $13.1 billion this year, breaking the previous record of $12.2 billion.
“We’ve seen actually a big focus on discount stores this year,” said Katherine Cullen of the National Retail Federation. “People are aware of what’s going on with tariffs and they’re gonna invest in what’s important to them, but they’re also gonna be very smart with their money.”
Impact on businesses
Derek Kennedy owns Magic etc Ft Worth Costume Inc. in north Texas. From masks and makeup to costumes, the Halloween season accounts for at least 25% of his yearly sales.
This year, Kennedy said the tariffs have had a terrifying effect, like slower shipping time and higher wholesale prices.
“Most of the costumes are made overseas and through the different manufacturers, the tariffs have ranged anywhere from 5% to 19%,” Kennedy explained.
Kennedy is testing out a new trick by treating his loyal shoppers to low prices by absorbing most of the cost of tariffs.
“Even though there was a surcharge at the bottom of the invoice of $300, $500, $700 sometimes, I kind of ignored it this year and just tried to price like normal because, you know, people only have so much money to spend,” he said.”
But for some items, like fog machines, the price difference is too much for Kennedy to absorb. The machine last year was $58. This year, it will cost $74, he said.
It’s not just costumes and decorations. Candy for your trick-or-treaters will also cost you more.
According to online sales trackers, an average bag of fun-size chocolate bars is up approximately $5 compared to last year. An average bag of snack-sized chocolate bars is up about $2. Last year, a 48-count box of full-size chocolate bars cost about $40. This year it’s more than $50.
