American consumers are getting into the Halloween spirit this year, planning to spend a record $8.4 billion on the holiday, according to new data from the National Retail Federation.
While that’s a lot of spending on costumes and candy, especially since the holiday falls on a Monday this year, Halloween ranks near the bottom of the list among holidays for spending, outpacing only Saint Patrick’s Day.
More than 171 million Americans intend to shell out an average of $83 each for the holiday, up nearly 12 percent from 2015. That includes an average outlay of $31 on costumes and $26 on candy.
Source: National Retail Federation
In total, Americans will spend $3.1 billion on costumes, $2.5 billion on candy, $2.4 billion on decorations and $390 million on greeting cards.
Among those surveyed, more than seven in 10 American consumers will hand out candy to trick-or-treaters, 49 percent will decorate their home, and 47 percent will dress in a costume. Other popular Halloween-related activities include pumpkin carving and attending parties.
When it comes to costumes, Americans will spend $1.2 billion on children’s costumes, $1.5 billion on adult costumes and $417,000 dressing up their pets.
This year, consumers will be getting an early start, with nearly a third saying they’ll start picking up Halloween items in September. The most popular time to shop for Halloween products is the first two weeks of October.
Overall Halloween spending has been on an upward trend for years, growing nearly 70 percent over the past decade.