Children participate in the annual Ragamuffin Halloween Parade, postponed by Hurricane Sandy, in Hoboken, New Jersey November 12, 2012.
Gary Hershorn/Reuters

Happy Halloween: It’s time to have a costume party

Updated

Trick or treat! Thousands of kids will exclaim that this Halloween as they go door-to-door in search of candy and treats.

While Halloween is known as a fun holiday for children, it has also become a family holiday. “This year families will get out and trick and treat together and we will see a lot of family costumes like witches and Crayola crayons,” Chief Toy Officer of Toy Book Laurie Schacht told MSNBC.com.

For many in the northeast, Halloween was canceled last year because of Hurricane Sandy which is why this year people are going all out. “It is a good year in terms of Halloween, everyone wants to party,” Schacht said. “It is a time where people spend a lot of money on kid, adult, and pet costumes.

As the costume market sees a bump in sales, so will retailers come the holidays. According to a recent Gallup poll Americans on average expect to spend $786 on Christmas gifts which is similar to holiday spending over the past two years. “Today’s figures are in line with those of the pre-crisis period from 2002 through 2007 – yet another indication that retailers will see average, if not robust, sales growth this year,” Gallup reported.

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Happy Halloween: It's time to have a costume party

Updated