Photo: Flickr via heatherbuckley
Halloween just might be a recession-proof holiday.Americans are projected to spend a record $8 billion on costumes, decorations and candy this year––averaging out at about $80 per person, according to the National Retail Federation.
More than 70 per cent of consumers over the age of 18 wll get in the spooky spirit, up from about 68 per cent last year.
The downside is that Halloween is notoriously one of the most difficult holidays to be frugal. There’s such a short window of time to buy supplies and costumes, and unless you had the forethought to snatch up deals on Nov. 1 last year, chances are you won’t find much that’s on sale.
Or will you?
Here are seven savvy ways to save on costumes and candy from Jeff Kaplan, CEO of deals site Lozo.com:
- Buy Bigger Sizes. This will prolong the life of a Halloween costume and increase the chance that your child can wear it again next year.
- Skip the Deluxe Versions: Many costume ideas come with in a ‘classic’ or ‘deluxe’ version. Save money by buying the ‘classic’ version and accessorizing it on your own.
- Comparison Shopping: Comparing prices to ensure you get the best one is a tried and true way to save money. Many popular costumes come with a manufacturer’s model number – use that code to search across several different websites to find the best price.
- Buy Last-Minute: The prices for Halloween supplies start to plummet right after October 31st. Knowing that, retailers tend to start their discounting a little earlier, sometimes even as much as 1 week or more before Halloween.
- Focus on Price-per-Unit: As any savvy grocery shopper knows, the unit price (e.g., how much it costs per ounce)—not the actual price marked on the shelf—to determine the value you’re getting.
- Don’t Limit Yourself to Grocery Stores: It’s convenient to buy something at the supermarket, but it isn’t necessarily the best deal. Check out local drug stores like CVS, Walgreens, Target, Walmart, Kmart, and the dollar store.
- Buy in Bulk: Halloween is a great time to team up with family, friends and neighbours to buy warehouse club size bags of candy from a place like Costco.
Business Insider Emails & Alerts
Site highlights each day to your inbox.