NEW YORK (CNN/Money) - Retailers will be "goblin" up sales this Halloween as consumers are expected to spend a little bit extra on scary costumes and tasty treats.
According to the National Retail Federation's (NRF) 2004 Halloween survey, total Halloween spending is estimated to grow 5.4 percent to $3.12 billion from $2.96 billion last year.
The recent survey found that the average consumer plans to spend $43.57 on Halloween merchandise this year, up from $41.77 in 2003.
"Halloween fills an important retail void between back-to-school and the holiday season," said NRF president and CEO Tracy Mullin in a statement. "Many retailers are carving out quite a niche for themselves in the Halloween market."
Halloween continues to be the second-biggest decorating holiday next to the winter holidays. Nearly 61.8 percent of consumers said they planned to decorate their homes and yards with spooky themes, the study said.
Consumers will also spend $15.21 on costumes and $14.83 on candy.
The report said Halloween is the sixth-largest spending holiday of the year. The winter holidays top the list at $219.9 billion in sales followed by $12.79 billion spent on Valentine's Day, $10.47 billion spent on Easter, $10.43 billion spent on Mother's Day and $8.04 billion for Father's Day.
Though Halloween will be celebrated by adults of all ages, consumers will celebrate the holiday quite differently. Young adults aged 18 to 24 plan to celebrate Halloween by dressing in costume (54.1 percent) and throwing or attending a party (50.6 percent).
Consumers over the age of 55 will spend their Halloween night at home and hand out candy (82.7 percent).
The survey, which polled 7,680 consumers from Aug. 31 to Sept. 8, has a margin of error of plus or minus 1.0 percent. The survey was conducted for NRF by BIGresearch.