American consumers will spend a record $10 billion on candy, decorations and pets this Halloween, according to an annual survey of family budgets by cash back site CardHub.com. A third of Americans who participated in the survey, 29 percent, were planning to spend more on Halloween this year than in the past.
The biggest trend in how Americans will decorate their homes is the use of bigger and more elaborate displays. Forty-five percent said they would spend more on Halloween decorations this year than in past years. The second biggest trend: spending more on smaller items, such as red and green Santa Claus figurines, rather than bulky jack-o-lanterns.
The average American consumer will spend about $25 for Halloween this year, an increase of $4, or 8 percent, compared to the year before. The average Halloween budget is $150, but more than 40 percent of consumers said they will spend between $25 and $150 on Halloween decorations.
The largest spenders will be millennials, who will spend an average of $70 on Halloween, followed by boomers who will spend $62, and Gen Xers at $48.
In terms of pets, most people will buy an average of two Halloween costumes for their cat or dog.