Americans spending more on Halloween

(CBS) -- Ann Malloy started her shop "Ann's Costumes" 35 years ago. She rents out professional costumes and says business is booming.

"...People love the holiday, some people love it more than Christmas and they want to look good and now with Facebook," she said.

Getting that perfect picture for social media is one reason people are willing to spend more for an elaborate costume.

Russell Goldberg shelled out a few more dollars than planned to get a Shrek outfit. He won best costume at a Halloween party last weekend.

"Halloween is our favorite holiday so we have a lot of fun with it," he said.

The National Retail Federation says Americans will spend an average of $86.79 on Halloween this year. That's up about 66 cents from last year.

IHS Marketing says a better economy and stronger consumer confidence is the reason why people are also buying more candy this year, spending about $2.5 billion on treats.

Pet costumes also continue to gain popularity. About 20% of owners will shell out money to dress up their pets this year, up from 16% last year.

And when it comes to humans, superheroes and Star Wars characters are big sellers.

Americans' willingness to spend a little more is making this Halloween a happy one for retailers.