(WANE) — With Halloween being just over three weeks away, people still have plenty of time to buy their fair share of pumpkins, candy and 10-foot-tall skeletons.
According to an annual survey from the National Retail Federation (NRF), Americans are expected to spend roughly $12.2 billion on the holiday, which would shatter the 2022 record that already exceeded pre-pandemic levels of Halloween spending.
“More Americans than ever will be reaching into their wallets and spending a record amount of money to celebrate Halloween this year,” said NRF President and CEO Matthew Shay in a press release.
On average, Americans will also be spending around $108 per person, which than the average spending habits for people during the Fourth of July and the Super Bowl, according to NRF.
According to the survey, a record number of people will be participating in Halloween in 2023, with 73% of Americans planning to partake in the holiday in some way.
“Social media continues to grow as a source of costume inspiration for younger consumers, as more people under 25 are turning to TikTok, Pinterest and Instagram for ideas,” said Phil Rist, executive vice president of Strategy at Prosper, which helped NRF gather data.
What people are doing for Halloween*
- Handing Out Candy (68%)
- Putting Up Decorations (53%)
- Wearing A Costume (50%)
- Attend a Halloween Party (32%)
- Take their children trick-or-treating (28%)
The NRF data show an exponential rise in the number of people spending money and participating in Halloween since 2021.
In 2005, only 53% of Americans participated in Halloween and spent around $3.3 billion for the holiday.
As for costumes, children are expected to go for Spiderman costumes as the top options, while the most popular adult costume is expected to be a witch, according to NRF.