12/31/2012 07:28 EST | Updated 03/02/2013 05:12 EST

It's the night of the big spenders

As the clock ticks down to midnight, Toronto businesses are already celebrating big profits for New Year's Eve. Party stores, the LCBO and caterers all say people are spending heavily.

"That's two boxes of booze, worth about $450 dollars. Just for a dinner party of 12," said Ian Brown who is hosting a party for New Year's Eve.

At this time of year, it's best to go big, he said.

"We're having lobster, because lobster's so cheap. It's $9.99 pound. So we have a very nice Sancerre [French wine]," he said.

"[A total of] $91million in champagne and sparkling wine were sold in all of last year," said LCBO spokeswoman Heather MacGregor.

"They do about 20 per cent of sales in that category this time of year," she said.

That's about $18 million of bubbly snapped up through the holidays.

Dec. 21 was a record-setting day for LCBO this year with $41.5 million in sales.

Then, there is the food to go with all that champagne.

"Caviar — people are gravitating towards [that]," said Gus Marsala, manager of Pusateri's Fine Foods in Yorkville.

"We have finger foods. Sushi is always a very popular item — lobsters, sea bass, a little bit of everything," Marsala said.

All that food is going fast.

For Pusateri's it's one of the busiest times of the year.

Boas, beads, confetti, hats and party favours are popular at New Year's Eve parties, and stores say this year business is booming.

"Crazy! It's so crazy here," said Maria Nemeth, general manager of the party supply store It's My Party.

The Danforth Avenue shop had filled 8,000 balloons by early Monday, and they were rushing to fill 2,000 to 3,000 thousand more

"I haven't been this busy since the millennium [celebrations] for balloons," Nemeth said.