Americans Spend $17 Billion on SUPER BOWL Related Goods
07 Feb 2016 by Pedro Aristes in Business, Celebrities, Cuisine, Event, Fame, Finance, General, Home, Money, Pleasure, Products, Spirits, Sports, Stars, Television
The countdown is on. While the main showdown – Panthers or Broncos – will have to wait until game day, ICSC presents a play-by-play of consumers’ spending this Super Bowl. A few winners: in-store triumphs online, millennials outspend boomers, chips prevail over burgers. The Super Bowl happens this weekend and retailers are carrying the surrounding momentum – 78 percent of American adults plan to tune in – straight to the end zone. This year, the more than 190 million people who plan to watch the Super Bowl will spend an average of $89 on food/beverage, apparel and themed merchandise, and electronics.
Shopping centers are gearing up as 40 percent of American adults who plan to spend money for the game will do so at a center. Of those who will spend money on items for the game, 75% will do so at a grocery store or supermarket, followed by discount stores (30 percent), warehouse clubs (16 percent), convenience stores (11 percent), sporting goods retailers (9 percent), and electronics stores (7 percent). Physical store locations continue to triumph over e-commerce and remain the dominant channel across all venues.
Whether planning to watch at home or at their local watering hole, consumers are loosening their purse strings. Of those who plan to watch, 85 percent will spend on food and drinks, 23 percent on apparel and Super Bowl-themed merchandise, and 14 percent on electronics.
While about two-thirds (67 percent) of American adults who will watch the game will do so in their own homes, 9.6 million American adults plan to watch in a bar/café or restaurant at a shopping center. Millennials make up a good chunk of this cohort, as about one in ten (11 percent) who plan to watch, will do so in a shopping center. 100 percent of American adults who plan to watch the Super Bowl at a bar/café or restaurant in a shopping center plan to spend on food and/or drinks—an average of $62.
Millennial viewers will also consume more than their older counterparts – roughly 2.7 times as much – spending an average of $143 compared to baby boomers who will spend an average of $53. This difference is not as apparent in the food and drink category, but mostly in apparel/merchandise category, where 45 percent of millennials will make purchases versus 9 percent of baby boomers, and the electronics category, 30 percent of millennials compared to four percent of boomers.
Millennials separate themselves from the pack when it comes to why they’re watching as 38 percent note their primary reason is to be with friends and family while a majority (64 percent) of baby boomers watch for the actual game.
Dubbed the “Golden Super Bowl” for its 50th anniversary, this year’s game is an opportune time to gather friends and family for a historic Super Bowl party. American adults who will watch the game at home with 5 or more people plan to spend an average of $88 on food/drinks. Apparel and other Super Bowl-themed merchandise will be purchased by 39 percent of American adults at an average of $45 and 20 percent will make electronics purchases averaging $60.
The Super Bowl may have ditched its trademark roman numerals in favor of the big 5-0, but snacks still reign supreme for parties of all sizes. Of those planning to spend money on food and drink, chips, soda, wings, pizza and beer are the chart-topping snacks and libations. For those who will spend on electronics, the biggest factor in buying a new television, home theater system or other electronics is hosting a party (36 percent), followed by deals available around game (33 percent), and technology advances (28 percent).
The annual championship has evolved into an unofficial national holiday of sorts, with an audience that is tough to peg down, ranging from true sports enthusiasts to Beyoncé’s cult following solely enticed by the half-time show. Of those who will watch the game, only about half (54 percent) will do so for the football game, followed by the desire to be with friends/family (29 percent), and lastly, for the commercials (17 percent). More men (64 percent) than women (44 percent) will tune in for the actual game. Nearly one in five women (21 percent) will watch for the commercials compared to 12 percent of men.