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How much are Americans spending to make their Halloween as ghoulish and festive as possible? A lot.
According to the National Retail Federation, consumers are expected to spend $6.9 billion on Halloween. That's $75 per person.
Although individual spending for candy and decor is expected to fall this year, to $75.03 from $79.82 in 2012, overall Halloween spending has increased 54.7% since 2005. This year, Halloween enthusiasts are estimated to spend $2.08 billion on candy. Hopefully for trick-or-treaters some of that is made up of full-sized candy bars. Everyone knows full-sized is the Halloween jackpot.
Americans also are estimated to spend $1.96 billion on decorations to scare the pants off of children entering their yards.
And the federation estimates Americans will spend $2.6 billion on the most important aspect of the holiday — costumes. Consumers will spend $1.2 billion on adult costumes this year.
While witches and superheroes are the most common costumes for adults, according to Market Watch the top searched Halloween costumes this year have been:
1. Minion (the little yellow Twinkie looking things from Despicable Me)
2. Breaking Bad (who doesn't want to be a meth dealer for Halloween?)
3. Fox (so you can walk around playing this song all night)
4. Duck Dynasty (I actually got Duck Dynasty costumes for my parents this year)
5. Miley Cyrus (beware of twerking this Halloween)
Guess how much people are spending on pet costumes. Just guess.
They'll spend $330 million. Who knew tiny devil, pumpkin and hotdog costumes could rack in so much dough?
Have a safe and Happy Halloween from the Business Observer!
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