HUNTINGTON, WV (WOWK) – As we get closer to Halloween weekend festivities, many people are getting their last-minute shopping and costumes together.
Those who are doing their last-minute shopping are seeing much higher prices. The Bureau of Labor Statistics shows even the price of candy has increased by 3.4% since last year.
The National Retail Federation says, on average, 7% of men and 14% of women do their Halloween shopping in the last two weeks of October when prices are typically higher due to a lower supply and a higher demand.
A local financial advisor, Sean Hornbuckle says there are ways to avoid last-minute splurging.
How can I avoid overspending?
“With sales skyrocketing right now, I would look for the best deal…This is an opportunity to use our creative minds. Going back in the days when you would just find something around the house and do a makeshift costume, I think would be pretty fun and creative for the kids,” he explains.
He says visiting corner stores for last-minute costumes could help you spend less. He also advises people to start planning ahead and thinking about next year now.
How can I plan for next year?
“When folks don’t last-minute shop, when they’re catching things out of the season, prices are naturally going to be at a more affordable rate. So, I think taking this opportunity right now – with skyrocketing prices – looking forward to next season and trying to shop around August and September. It’ll be early, but you’ll probably be able to get a better deal that way,” Hornbuckle says.