Halloween candy sales are surging as we near the frightful holiday on Monday (October 31).
As Halloween nears, reports indicate that the sale of Halloween candy could have a positive economic impact on American companies that manufacture and sell candy, as well as the dentists who will repair the teeth of children for many months after the holiday concludes.
According to reporting by Bloomberg, Halloween candy sales are expected to exceed $3 billion this year. The increase, it said, represents an increase of about 5.5 percent, with sales expected to top out at $3.8 billion. That, Bloomberg says, represents the largest increase in Halloween spending since 2011.
“In 2014 and 2015, spending on Halloween candy was up 5 percent and 1.7 percent, respectively.”
The report defined spending on Halloween candy as estimated October personal consumption expenditures, seasonally adjusted, on candy and chewing gum.
“The additional spending isn’t due to an increase in the prices of Halloween candy, either, as prices are expected to decline for the first time since 2013.”
With the increase in Halloween candy sales already experienced across the United States, American dentists see dollar signs in all that frightful candy, according to Forbes.
The increase in candy sales has the American Dental Association advising parents to monitor their children’s sugar intake and limit the candy that could result in increased tooth decay, Forbes reports.
“It especially thinks youngsters, and grownups, should eat their sweets with meals or shortly thereafter,” Forbes reports. “If you’re going to eat candy, stay away from sugary beverages (no M&Ms and Coke, for instance).”
If you are wondering which American city is the largest purchaser of Halloween candy, you may be surprised to know it is far from most other American cities. Honolulu, the capital of Hawaii, comes in at the top of the list, according to local website Hawaii Civil Beat.
“Honolulu ranks No. 1, however, for having the most candy and chocolate stores per capita,” the website reports. “But we are also No. 96 for the lowest percentage of people aged 14 and under. That’s no doubt due to good longevity rates.”
The Pacific Business Journal, a Honolulu-based business publication, noted that Honolulu was rated fourth best city for Halloween out of the country’s top 100 largest cities. Unfortunately, Halloween in Honolulu suffers from warm temperatures and the lack of kid-friendly activities due to an older population, it said.
“Maui also brings in visitors with Lahaina as a popular spot for Halloween festivities due to its Front Street block party that attracts 30,000 people, mostly tourists,” according to Lahaina Town Action Committee Executive Director Lynn Donovan. “The Monday event is free, but some bars charge cover fees.”
Donovan told the Pacific Business Journal that all flights into and out of Maui were booked, as were hotel rooms in the area, making the Front Street block party one of the island’s top attractions and one of the top attractions in the entire state.
If you are wondering how Halloween is impacted by the local and national economic situations, you are not alone. Bloomberg dug into the numbers and found the economy to be performing relatively well, which could be why the Halloween candy spending is up this year, along with costume purchases.
“Since last Halloween, unemployment has stayed near 5 percent, wages have been rising at a faster clip, and gasoline prices are up a mere 3 cents,” Bloomberg reported. “Many households have been using their pump price relief to pay down debt, save a little bit more, and dine out. Looks like buying more Halloween candy is another popular place to spend some of the extra cash.”
Have you already bought your Halloween candy and costumes? Tell us about it in the comments section below.
[Featured Image by Scott Olson/Getty Images]