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The stakes are high for Halloween spending this year, which is expected to reach a whopping $8.4 billion, the greatest amount in at least 11 years, according to the National Retail Federation (NRF). And with social media sites like Facebook, Pinterest and Instagram stirring up creativity and later casting a spotlight on trick-or-treaters (and their doting parents), Americans seem to be willing to shell out more for this year’s festivities.
According to NRF’s survey, conducted by Prosper Insights and Analytics, more than 171 million Americans will participate in Halloween celebrations this year, spending an average of $82.93 , up from $74.34 in 2015. The majority of this year’s spending will come from costume purchases ($3.1 billion), followed by candy ($2.5 billion), decorations ($2.4 billion) and greeting cards ($390 million).
Social media is “the fastest-growing influencer” of costume choices , with sites like Pinterest and Facebook inspiring creativity, the survey suggests. And while 47% of respondents plan to shop at discount stores for their costumes this year, 36% more will visit a specialty Halloween costume store. Others will look to department stores (23%), grocery stores (26%) and online (22%).
Retailers serving up a variety of options for costumes, décor and candy are “being aggressive with their promotions to capture the most out of this shopping event,” says NRF president and CEO Matthew Shay. Prosper Insights principal analyst Pam Goodfellow adds that with eight in 10 Americans planning to shop for the holiday by mid-October, there will be many early-bird promotions both online and in-store.
So what can we expect to see in neighborhoods across America—and abuzz social media’s Halloween escapades? NRF says princesses—the most popular costume for the past 11 years—will slip to the No. 2 spot this fall, with superheroes taking over. Other popular options: animals, Batman, Star Wars, witches and Frozen characters (yes, again).
