When it comes to Halloween, Americans will spend a record $10 billion, according to a survey by financial services firm Bankrate, driven by Halloween candy and decorations.
It’s the fifth consecutive year that spending is expected to set a record.
Of the total projected $10 billion, Americans will spend nearly $7 billion on Halloween candy. That’s almost four times the amount they spent in 2010, before Millennials, Gen Zers and others began turning to cheaper alternative sweets like caramel apples and pumpkin spice lattes.
About $2 billion of the projected spending will be on decorations, the highest on record. More Americans are expected to decorate their homes this year, opting for cheaper and simpler decorations and lighting. The average cost of lighting a living room is a record $106.26. The average cost for decorating a house is also highest in years: $168.04.
Only $2 billion will be spent on pet costumes, also a record high. Pet owners are showing a similar trend as children as they spend more on their pets than ever, as a safety precaution. More than half of pet owners say they will cover their pets’ costumes, with an average of $50.13 spent.
And around $2 billion will be spent on pet food. About 35 percent of pet owners say they will buy pet food or supplies to use for their pets’ costumes.
The projected spending total is based on online surveys of 1,200 U.S. adults. Those surveyed were all currently employed full-time and living in the United States.