Halloween's big spenders are millennials

Key Points
  • Between costumes, decorations and candy, Halloween enthusiasts will shell out an average $169.81 this year.
  • The 18-to-36 set will outspend other generations by 2-to-1.
Halloween haunted houses are a scary growing business.
Barry King | WireImage | Getty Images

The scariest thing about Halloween may be the unintentional expenses.

Between costumes, decorations and, of course, candy, the average American will be shelling out $169.81, according to a recent poll by LendEDU.

Costume purchases made up almost half of that, with partygoers spending just over $70 on their disguises, LendEDU said. More than $60 will be spent on treats and a little less than $40 on decorations, including the prerequisite jack-o-lantern.

Altogether, the total amount spent on the spooky season is forecast to reach a record high of $9.1 billion, with 179 million Americans planning to partake in Halloween festivities, up from 171 million in 2016, according to the National Retail Federation.

That survey also found that a record number of adults, or 48 percent, plan to dress in a costume this year. (Pets are also getting in on the action.)

Millennials, in particular, are outspending other generations by about 2-to-1, according to a separate survey by CIT Bank.

Chart Asset: CIT Bank Millennial Halloween Spending Image 1

However, just 38 percent of millennials said they are saving for retirement, falling behind both Gen Xers (at 62 percent) and boomers (at 48 percent), CIT Bank said.

Despite coughing up all that dough for one night, one of the most popular costumes for 2017 is — ironically — Pennywise from "It."

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