Americans Will Spend $8.4 Billion on Halloween in 2016

Consumer spending on Halloween costumes, decorations and candy will reach a record high 8.4 billion dollars this year.

The National Retail Federation says more than $2.4 billion of that is on candy. Spokesperson Ana Serafin Smith says more than 171 million Americans are planning to spend something on Halloween events this year.

The expected average is $83 dollars per person this year. That's divided among a variety of items like candy, costumes, decorations and even greeting cards.

Smith add that millennials and their use of social media are the reason why the popularity Halloween continues to grow.

It's that one time of year when you can dress up in a costume, have fun. go trick or treating with your friends and family, or even go to a Halloween party and show off not only your costume, but as well as your friend's outfit on Twitter.

What costumes will be big this year? Smith says the Presidential election is also driving up costume sales as many people are dressing up as either Donald Trump or Hillary Clinton.

Many stores have started selling out of these costumes and masks. When we look at our data, we learned that it's really adults, over 35 that are going to be dressing up like these political characters.