Well good gourd, it’s Fall y’all. Coronavirus might be the scariest thing this year and though it puts the kibosh on some things like Halloween parties and haunted houses, pumpkin carving is A ok. In 2020, Finder estimates that 152 million Americans (roughly 46% of the population) plan to have a gourd ole’ time buying a pumpkin to make homemade jack-o-lanterns, which is slightly more than 145 million (44%) in 2019.
With Americans forecast to spend $8.1 billion on All Saints’ Day, according to the National Retail Federation, 2020 will be roughly $730 million shy of the $8.8 billion they were forecast spend in 2019.
The cost of a pumpkin is up, with prices higher than the last several years. In 2020, the cost of the average pumpkin is $4.18, up from $4.04 in 2019 — a 3.63% increase. This increase in the cost of a pumpkin, coupled with the rising number of Americans planning to carve out some time in their schedules for Jack[-o-lantern], means that Americans are projected to be spending approximately $687 million on pumpkins in 2020. This is an increase of more than $100 million from the $586 million just a year ago.
Here’s how the total adds up:
Average price of a pumpkin
$4.18
Percentage of Americans planning to carve pumpkins
46%
Number of Americans that plan to carve pumpkins
151,947,727
Total jack-o-lantern expenditure
$686,736,438
Source: finder.com, United States Department of Agriculture, U.S. Department of Commerce, National Retail Federation
Time to get spooky
Overall, Halloween 2020 is expected to be a less expensive day with the National Retail Federation predicting total spending on Halloween to reach $8.05 billion, an 8% decrease from $8.78 billion last year.
How are Americans celebrating Halloween this year compared to last year?
Halloween activity
Percentage of Americans participating in 2019
Percentage of Americans participating in 2020
Hand out candy
69%
62%
Decorate home or yard
49%
53%
Dress in costume
47%
46%
Carve pumpkin
44%
46%
Throw or attend a party
32%
22%
Take their child trick-or-treating
29%
23%
Visit haunted house
22%
15%
Dress pet in costume
17%
18%
Source: National Retail Federation, finder.com
How can you save on Halloween?
“A DIY costume can definitely help with savings if you use material and clothing you already have. And let’s be honest, something as simple as bedsheets can make you the perfect ghost or superhero. You might even end up having the most creative costume due to your innovation. Also with the current state of the world courtesy of the pandemic you might be able to cut back on your candy budget as well. Less trick or treaters and less people partying means you might not require as many treats. Save that money for Black Friday the following month, ” says Allan Givens, PR Coordinator at finder.com.
“Be sure to set a budget before venturing to the shops to ensure you’re conscious of over-spending. Do some research and see what stores are offering the best deals on candy. Some candy you have laying around from the year before might still be good. Dark chocolate can have a shelf life of two years in foil when kept in a cool dry place. If you are hosting a party don’t hesitate to reuse decorations from the year before or craft some up.
How to choose the ideal pumpkin for carving
Comparing the cost of a jack-o-lantern over time
Let’s take a closer look
The average price of a pumpkin has increased by 3.63% in 2020, to $4.18 from 2019’s $4.04. The proportion of Americans planning to carve pumpkins has increased two percentage points, from 44% to 46%. This higher price average coupled with a higher percentage of pumpkin carvers in 2020 resulted in an increase of 17.16% in total jack-o-lantern expenditure, $101 million more than last year.
2020
2019
2018
Figures
YoY difference (%)
Figures
YoY difference (%)
Figures
YoY difference (%)
Average price of a pumpkin
$4.18
-3.63%
$4.04
-3.77%
$3.89
-5.58%
Percentage of Americans planning to carve pumpkins
46%
N/A
44%
N/A
0.45
N/A
Number of Americans that plan to carve pumpkins
151,947,727
4.73%
145,089,009
-1.89%
147,882,426
-1.42%
Total jack-o-lantern expenditure
$686,736,438
-17.16%
$586,159,597
1.89%
$575,262,637
-6.92%
Source: finder.com, United States Department of Agriculture, National Retail Federation
Jack-o-lantern fun facts
80% of the pumpkin supply in the United States is available in October.
Jack-o-lanterns are believed to have originated in Ireland in the 19th century.
The world’s largest jack-o-lantern was carved into the Guinness World Records on October 31, 2010, by Scott Cully in Bronx, New York, weighing 1,810.5 pounds (821.23kg).
The average price of a pumpkin during the fall 2020 season was calculated using the historical average advertised retail price per pumpkin recorded each week from 2015–2019 and the weekly advertised retail price per pumpkin reported so far in 2020. From 2015-2019, pumpkins were sold for an average of 8.8 weeks according to the United States Department of Agriculture Agricultural Marketing Service. We calculated the percentage difference between the average price by each week of sales and the overall average price each year to forecast the price of a pumpkin for this year. Average prices were weighted by the number of stores.
The total amount spent on carving pumpkins this Halloween was calculated using the current U.S. population, the percentage of Americans expected to carve pumpkins this Halloween, and the projected average price of a pumpkin during the fall 2020 pumpkin season.
Note on 2019 prices: We were off by -$2.14 with our original 2019 estimate of $2.60 for the cost of a pumpkin. USDA data shows that the actual average weighted cost during 2019 was $4.04 when weighted by the average price and the number of stores from 9/07/19 to 11/01/2019.
Halloween is just around the corner but America’s love for this spooky holiday appears to be waning. In 2019, Finder estimates that 145 million Americans (roughly 44% of the population) will be buying a pumpkin to make homemade jack-o-lanterns, which is down slightly from 147 million (45%) in 2018.
With Americans forecast to spend $8.8 billion on All Saints’ Day, according to the National Retail Federation, 2019 will be roughly $200 million shy of the $9 billion they spent in 2018.
The cost of a pumpkin is also down, with prices falling for the third straight year. In 2019, the cost of the average pumpkin is $2.60, down from $3.89 in 2018 — a 33% decline. This precipitous fall in the cost of a pumpkin, coupled with a declining number of Americans planning to carve a jack-o-lantern, means that Americans will be spending approximately 377.23 million on pumpkins in 2019. This is a drop of more than $200 million from the $575.26 just a year ago.
Here’s how the total adds up:
Average price of a pumpkin
$2.60
Percentage of Americans planning to carve pumpkins
44%
Number of Americans that plan to carve pumpkins
145,089,009
Total jack-o-lantern expenditure
$377,231,423
Source: finder.com, United States Department of Agriculture, U.S. Department of Commerce, National Retail Federation
Time to get spooky
Thankfully, there should be enough supply to meet the demand for everything pumpkin-related this fall, with pumpkin production up on last year, when diseases, rain and cool temperatures damaged crops.
Overall, Halloween 2019 is expected to be an expensive day with the National Retail Federation predicting total spending on Halloween to reach a record of $8.8 billion.
How can you save money at Halloween?
“A DIY costume can definitely help with savings if you use material and clothing you already have. And let’s be honest, something as simple as bedsheets can make you the perfect ghost or superhero. You might even end up having the most creative costume due to your innovation,” says Allan Givens, PR Coordinator at finder.com.
“Be sure to set a budget before venturing to the shops to ensure you’re conscious of over-spending. Do some research and see what stores are offering the best deals on candy. Some candy you have laying around from the year before might still be good. Dark chocolate can have a shelf life of two years in foil when kept in a cool dry place. If you are hosting a party don’t hesitate to reuse decorations from the year before or craft some up.
Comparing the cost of a jack-o-lantern over time
Let’s take a closer look
The average price of a pumpkin has dropped by 33.16% in 2019, to $2.60 from 2018’s $3.89. The proportion of Americans planning to carve pumpkins has only declined one percentage point, from 45% to 44%. This lower price average coupled with 44% of American’s 2019 population resulted in a decrease of 34.42% in total jack-o-lantern expenditure.
2019
2018
2017
Figures
YoY difference (%)
Figures
YoY difference (%)
Figures
YoY difference (%)
Average price of a pumpkin
$2.60
-33.16%
$3.89
-5.58%
$4.12
N/A
Percentage of Americans planning to carve pumpkins
44%
N/A
45%
N/A
46%
N/A
Number of Americans that plan to carve pumpkins
145,089,009
-1.89%
147,882,426
-1.42%
150,007,007
N/A
Total jack-o-lantern expenditure
377,231,423
-34.42%
$575,262,637
-6.92%
$618,028,870
N/A
Source: finder.com, United States Department of Agriculture, U.S. Department of Commerce, National Retail Federation
Jack-o-lantern fun facts
80% of the pumpkin supply in the United States is available in October.
Jack-o-lanterns are believed to have originated in Ireland in the 19th century.
The world’s largest jack-o-lantern was carved into the Guinness World Records on October 31, 2010, by Scott Cully in Bronx, New York, weighing 1,810.5 pounds (821.23kg).
Methodology
The average price of pumpkins ($2.60) was calculated using the average advertised retail price per pumpkin recorded each week in September by the United States Department of Agriculture Agricultural Marketing Service.
44% of Americans are expected to carve pumpkins this Halloween, based on the National Retail Federation’s Annual Halloween Spending Survey, conducted in 2019 by Prosper Insights & Analytics.
A conservative estimate was used to calculate the number of pumpkins carved, as some people will carve more than others. So we used 44% of the total American population, of 329,747,748 as at September 2019, (source: United States Census Bureau Population Clock), which equates to 145,089,009.12, then multiplied by $2.60 to total $377,231,423.
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Allan Givens is the PR Manager for Finder.com. He is graduate of the University of Connecticut where he majored in sociology and women studies. His previous experience in finance includes brokering loans for small business and optimizing finance content for top sites. Allan now focuses on researching financial trends occurring in the US to better disseminate more informed financial advice.
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