That estimate is based on a survey of shoppers by the National Retail Federation. The total spending is up from an estimated$6.86 billion last year.
The average amount people spend on costumes is expected to rise to $28.65, up from $26.52 in 2011. Consumers are also estimated to spend $23.27 on average for candy, up from $21.05 last year, and $23.56 on decorations, up from $19.79.
And, if you need to look for a place the American consumer could probably afford to cut expenses, 15.1 percent of those surveyed said they plan to dress their pet in costume. Spending on pet costumes in the U.S. is expected to total around $370 million this year.
Of those surveyed, 71.5 percent said they would celebrate Halloween this year, up from 68.6 last year. The survey has margin of error of plus or minus 1 percent. The survey was conducted by BIGInsight, and covered 9,393 consumers, the NRF said.