Halloween spending scarily strong may hit record of $9.1 billion

By Personal FinanceFOXBusiness

Americans expected to spend $9.1 billion on Halloween this year

Party City CEO James Harrison discusses this year’s popular Halloween costumes and Halloween profits.

Americans are planning to go all out this year for Halloween.

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According to the National Retail Federation (NRF), consumers are expected to spend a record $9.1 billion on costumes, candy and pumpkins. That number is up nearly 8.3% from last year’s estimate of $8.4 billion.

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The average consumer is expected to spend around $86.13 to gear up for holiday, up from last year’s $82.93. The reason says NRF is that more Americans are planning to partake in the festivities then years past. This year, a record number of adults (48%) say they even plan to dress in costume.

“Halloween continues to be a highly anticipated holiday for Americans, who will spend a record amount this year with increases across all purchasing categories,” Prosper Insights principal analyst Pam Goodfellow says.

But the bad news, Goodfellow says, is that 47% of those shoppers say they plan to visit discount retailers to get their supplies, while 38% say they will go to a specialty shop.

“Expect consumers to be on the lookout for early-bird promotions both online and in-store as they hunt for the best items to complete their costumes and embellish their homes,” she adds.

Shoppers plan to spend the most—$3.4 billion in total—on costumes this year with 35% of them planning to search online. Other sectors like candy, decorations, and greeting cards will also see a boost. Nearly 95% of participants say they plan on buying some sort of sweet treat giving candy retailers a $2.7 billion bump.

The good news though is Halloween classics like witches, batman characters, animals and pirates are still some of the most desired looks this season.

NRF, in a partnership with Prosper Insights, surveyed over 7,000 consumers about their Halloween shopping plans and they have released this report since 2005.

This article was originally published in September 2017.