Despite the sluggish economy, the National Retail Federation is predicting Halloween spending will reach $5.07 billion this year. According to  this MediaPost article, that means the average consumer will spend $64.82 on the holiday compared to $59.06 last year. "As news about the economy floods the airwaves, many Americans want to take a break from reality to have a bit of fun," researchers for the NRF report. Aside from the Halloween staples of costumes and candy, consumers are spending more money on home décor for the spooky holiday.

And, according to the National Confectioners Association, Halloween has also evolved into the "meet and greet holiday of the year," giving Americans the perfect excuse to meet their neighbors. They report that roughly 63 percent of consumers say socializing and handing out candy are their favorite holiday traditions.