Money spent on Halloween is expected to soar above £300million for the first time this year - thanks to the under 35s.
People in Britain are forecast to spend £310million on Halloween this year - up 5% from £295m in 2015.
And those aged 16 to 35 are expected to spend the most - with as many as half spending money on Halloween, according to research.
Last year, 40% of all Brits spent money on Halloween, with 6% spending £85 or more.
Alice Goody, retail analyst at Mintel, which carried out the research, said: "The value of the Halloween market is set to rise in 2016, as retailers continue to dedicate more space in store to their seasonal ranges.
"For millennials who grew up celebrating Halloween, this nostalgic event provides a good excuse for a party, driving retail spend on food and drink, as well as money on going out.
"Capturing the imagination of these young consumers will be key to driving the growth of Halloween, as not only are they buying more items and spending more on average than other generations, but the vast majority agree that they enjoy taking part in the event."
Last year the nation's top five Halloween activities were carving a pumpkin (13%), watching a scary film (12%), dressing up in fancy dress or face paint (10%), decorating the home or garden (9%) and hosting or attending a party or dinner party (8%).
Women aged 16 to 24 and parents of children under five proved that dressing up isn't just for children, with 27% of these consumers wore fancy dress or face paint for the occasion, compared to 10% on average.
Ms Goody added: "The popularity of pumpkin carving, dressing up and face paint creates an opportunity for retailers to tap into the desire for experiences by offering in-store Halloween workshops, such as pumpkin-carving ideas or face painting tutorials."
Hot on the heels of Halloween, Bonfire Night is the smallest autumn/winter event in the calendar, worth an estimated £52m this year.