Halloween spending is growing at a rate that is, well, scary.
According to the National Retail Federation, a record 170 million Americans will spend close to $8 billion on candy, pumpkins, decorations and costumes – both for them and their pets. More than 70% of people in the U.S. say they’ll celebrate Halloween this year, the most ever recorded by the NRF. The average American will spend almost $79.83 on the holiday, compared with $72.31 last year.
Halloween spending has been on an impressively steady rise for years.In 2011, spending hit $6.9 billion. Last year we spent $300 million on pet costumes alone. This year it’s projected to hit $370 million.