Will Halloween Spending Rebound in 2025, Despite Tariffs and Other Macro Concerns?

It might seem a little early to be speaking of spooky season, but with holiday creep advancing yearly — and with big names such as Target, Walmart, and Home Depot already getting in on the Halloween retail action — the question of whether seasonal sales might rebound in 2025 is worth consideration.

According to National Retail Federation data, Halloween spending took a hit in 2024, falling from an all-time high of $12.2 billion in 2023 to rest at $11.6 billion. Regardless of data showing a slowdown last year, there has been a definite resurgence in spending surrounding the late-October thematic holiday since the pre-pandemic era, per the NRF’s Katherine Cullen.

“I think it takes away from the fact that this holiday has grown in popularity,” Cullen said in the midst of last year’s Halloween season.

“When we look at older Gen Z and millennial-age consumers, Halloween is their favorite holiday. I think you have all this momentum and engagement around what used to be a relatively small event. Before the pandemic, it represented about $8 billion in terms of spending, and now we’re up at close to $12 billion,” she added.

And while the NRF hasn’t (yet) released its survey data or associated projections for this sales season, GrabOn writer Tushar Behara suggested that the $15 billion mark could be reached for Halloween 2025, although it should be noted that the methodology backing this figure was not made readily apparent.

On the other hand, as Axios writer Kelly Tyko underscored, Halloween is “one of the seasonal events most affected by tariffs,” given that the bulk of merchandise is imported from China.

Tyko further cited The Halloween and Costume Association, which warned in April that tariffs threatened to “wipe out Halloween and severely disrupt Christmas,” as well as Stephanie Carls — RetailMeNot retail insights expert — who told the publication that “With tariffs potentially driving up costs later this year, many shoppers are buying now to get ahead.”

“Shoppers know if they wait, the best items might be gone or more expensive,” Carls continued, which could explain (at least in part) the decision, made by many retailers, to pull forward the shopping season.

Target, Home Depot, Walmart, Lowe’s, and Others Kicking Things Off Early With Halloween Sales

With each retail holiday sales season cycling earlier than in days past, it should come as no surprise that many retailers — notably, Home Depot and Target — are getting in on the action as soon as possible.

Home Depot is currently advertising its assortment of Halloween offerings on its front page, as well as under its “Labor Day Must-Haves” assortment. Returning is its iconic 12-foot-tall “Skelly” statue, among a collection of other haunting decor items and seasonally appropriate lighting solutions, as USA Today noted.

Target dropped an Aug. 11 press release advertising itself as “your Halloween HQ” with the announcement of more than 1,500 items, starting at $1.

Tyko indicated that Walmart had already initiated its Halloween push, that Lowe’s had begin an early in-store launch on July 15 (with a full-store reset slated to be complete as of Aug. 22, and online by Aug. 25), that T.J. Maxx and Dollar Tree had followed suit to capture early Halloween spend, and that Michaels would wrap its rollout by Aug. 15.

Spirit Halloween Goes Big on Immersion For Halloween 2025, Maintaining Record-High Number of Stores

Finally, the company which built itself into a seasonal retail powerhouse — Spirit Halloween — signaled it believed opportunity was knocking this Halloween season, despite macroeconomic concerns and ongoing tariff pressures.

As Chain Store Age reported, Spirit Halloween is set to open ~1,500 locations this year, about the same number that it set records with in 2024. And as an Aug. 20 press release from the retailer indicated, “immersive” (and likely expensive) experiences were top-of-mind, particularly with the launch of a brand new “Madison Scare Park” haunted subway platform experience being slated for placement in 1,000 stores, per a separate USA Today article.

“All-new for 2025, the brand’s infamous in-store experience transports guests to Madison Scare Park, a haunted subway platform brought to life through an interactive design and eerie details. At the heart of the experience is this year’s show-stopping animatronics, debuting cutting-edge features like dual 180-degree rotational motors showcased in Twisted Grandma, a frightful twist on candy dispensers with Trick or Treat Pete, and advanced motion tracking as seen in the all-new Jack the Reaper animatronic,” the company detailed.