Americans are expected to spend more on candy and costumes than ever before on the spookiest night of the year.
According to the National Retail Federation’s annual survey, total spending for Halloween is estimated to reach $8.4 billion — an all-time high in the survey’s history.
U.S. consumers are expected to spend an average of $82.93, up from last year’s $74.34. More than 171 million Americans planning to partake in Halloween festivities this year.
It is estimated that consumers will spend $3.1 billion on costumes, $2.5 billion on candy, $2.4 billion on decorations and about $320 million on greeting cards.
“After a long summer, families are excited to welcome the fall season celebrating Halloween,” said Matthew Shay, NRF president and CEO. “Retailers are preparing for the day by offering a wide variety of options in costumes, decorations and candy, while being aggressive with their promotions to capture the most out of this shopping event.”
About 71 percent of consumers plan to hand out candy, while 41 percent will decorate their home or yard. Attractions could profit from the holiday as well, with about 21 percent of consumers planning to visit a haunted house.
“Consumers are eager to celebrate Halloween, especially given that eight in 10 Americans will shop by mid-October. That is the highest we have seen in the survey history,” said Pam Goodfellow, an analyst. “Americans will enjoy taking advantage of early-bird promotions both online and in-store as they kick off the fall season.”