Halloween is fast approaching, and officials say consumers are expected to be doing more treating than tricking this year.
According to new research from The National Retail Federation, we will spend a record $10.6 billion on Halloween this year, exceeding the record we set last year of $10.1 billion.
NRF Senior Director of Industry and Consumer Insights Katherine Cullen told Modern Retail, “The big driver this year was a return to pre-pandemic participation levels.”
The research also finds we’re expected to spend $3.6 billion on our costumes alone, including $700 million on pet costumes, with one in five people dressing up their pets. Sales of human costumes are expected to be the highest since 2017.
The timing of Halloween is also a potential factor in the increased spending. Because Halloween this year falls on a Monday, the celebrations are extended throughout the entire weekend.
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