Over 157 million Americans will celebrate Halloween this year, with total consumer spending reaching $6.9 billion.
The average consumer celebrating the festivities will spend $74.34 this year, down from 2014's $77.52, according to the National Retail Federation's Halloween Consumer Spending Survey. The study was conducted by Prosper Insights and Analytics.
"After a long summer, consumers are eager to embrace fall and all of the celebrations that come with it," said Matthew Shay, NRF's president and CEO, in a statement. "We expect those celebrating Halloween this year will look for several different activities to do with their family and friends. Consumers are ready to take advantage of promotions on candy, decorations and costumes, and retailers are ready to serve them."
Those celebrating Halloween plan to spend an average of $27.33 on costumes for their families, and a total of $2.5 billion on large and small costumes, whether store-bought or homemade. The biggest spend will be on adult costumes, totaling $1.2 billion, with children's costumes reaching $950 million.
Additionally, pets continue to be a hot market for Halloween garb, attaining a total of $350 million in sales. An estimated 68 million Americans will don costumes this Halloween and another 20 million pet owners will dress up their pet.
Candy remains a big part of Halloween consumption. Nearly 94 of consumers are expected to buy candy, spending a total of $2.1 billion. Another 33.5 percent will buy Halloween-themed greeting cards for another $330 million in sales.
Home decorations will be purchased by 44.8 percent of Halloween celebrants. The average spend by individuals will be $20.34, and total spending is expected to reach $1.9 billion.
Halloween celebrations include 67.8 percent of consumers handing out candy, 43.5 percent dressing up in costume, 31.5 percent hosting or attending a party with friends and family, and 41 percent carving pumpkins. All this spending will take place as consumers gear up for the holiday gift-giving season.
-See this NRF statement
FierceRetail's 12 days of Christmas
Retailers add 37,600 jobs in October as holiday hiring shifts into full gear
61% Americans will shop Thanksgiving weekend
Black Friday, Cyber Monday drive 24% more sales than marketplaces
Best online holiday deals to hit Thanksgiving Day