Halloween Spending Up

More Americans than ever will be buying Halloween costumes this year, and spending on the holiday is expected to be up about $2 over last year, according to a survey by the National Retail Federation (NRF). 

Overall, the average person will spend $77.52 this Halloween, compared to $75.03 in 2013. Total spending on Halloween this year is estimated to reach $7.4 billion.

More than two-thirds will buy costumes, the most in the survey's 11-year history.

"There's no question that the variety of adult, child and even pet costumes now available has driven the demand and popularity of Halloween among consumers of all ages. And, with the holiday falling on a Friday this year, we fully expect there will be a record number of consumers taking to the streets, visiting haunted houses and throwing unforgettable celebrations," said Matthew Shay, president and CEO of the NRF, in an emailed press release on Sept. 24.

According to the survey, celebrants will spend $2.8 billion on costumes overall.

• $1.1 billion on children's consumes.
• $1.4 billion on adult costumes.
• Pet costumes will top $350 million.

The NRF says candy and greeting cards will also be popular this Halloween, with $2.2 billion expected to be spent on candy and $2 billion to be spent on decorations.

"We will be seeing a record number of people buying costumes this year, more than we've seen in our 11-year history," said Kathy Grannis, spokesperson for the NRF. "The economy is still very much a part of the average person's daily thought process. As retailers try to capture that dollar and gain their attention, they're also reminded every day that these are the same shoppers who are sensitive to price, but still want to have fun. So, retailers will be offering great deals on what they know people want to celebate with."

So where will Americans be finding inspiration for their Halloween costumes? The NRF says most people will look online, some will search shops while other will turn to social media for ideas.

• 34.2 percent will look for costume inspiration online.
• 33 percent will visit a local costume shop.
• 11.4 percent will turn to Pinterest, up from 9.3 percent last year.

For some consumers, the economy is still top-of-mind.

According to the survey, 18.8 percent said the state of the economy will impact their Halloween spending plans. Nearly 20 percent of those impacted will utilize their creative skills and make their own costumes rather than buying a new one this Halloween.

"It helps that the economy is on a bit of an upswing. The sentiment is more positive than it has been. I think consumers are feeling a little better and that will translate into a great Halloween season and holiday season as well," Grannis said.

When it comes to celebrating Halloween, 71.1 percent of Americans will hand out candy.  In addition, 46.7 percent will decorate their homes and yards and 33.4 percent plan to either throw or attend a Halloween party.