$8 Billion Expected To Be Spent On Halloween, Up 17.5%

Halloween spending is expected to hit $8 billion this year, according to a new survey.

A survey by BIGinsight of 9,393 consumers conducted for the National Retail Federation reported the results, a 17.5 percent increase from 2011. The survey projected that the average Halloween fan will spend about $79.82 for decorations, candy and Halloween costumes.

According to the survey, 15.2% of customers will be using social networks like Facebook to find inspiration among friends for their costumes.

Pet owners are expected to spend $370 million on costumes for dogs and cats during the season.