US football fans are getting ready for Super Bowl LIV, the 54th annual event for those unfamiliar with Roman numerals, this year between the San Francisco 49ers and the Kansas City Chiefs to be held in Miami. Consumers are expected spend an estimated $17.2 billion on Super Bowl-themed activities and purchases, based on an annual survey conducted by the NRF in conjunction with Prosper Insights & Analytics.
Average Spending Expected to Grow 9% Year over Year
This year’s Super Bowl in which the San Francisco 49ers take on the Kansas City Chiefs for the final showdown of the 2019-20 season is expected to draw a record 193.8 million viewers nationwide, up 6.2% year over year.
Those viewers are expected to spend an average of $88.65 on food and beverages, team apparel, decorations and even new televisions to watch the game, up 9% year over year. Total spending is expected to reach $17.2 billion nationwide, the highest in the survey’s history.
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Source: NRF/Prosper Insights & Analytics[/caption]
The survey found 18.8% of US adults will host a party (around 47.7 million people), while 27.3% (69.3 million) will attend one. Bars and restaurants can also expect strong turnout, with 5.2% (or around 13.1 million) planning to watch the game outside the home.
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Source: NRF/Prosper Insight & Analytics[/caption]
Food and Beverages Top the List of Most Popular Purchases
Of the 193.8 million people who plan to watch the game, 80.4% said they plan to buy food and drinks, while 10.8% said they will spend on team apparel and accessories such as jerseys, hats and coats, while 7.7% will buy decorations. Some 9.3% said they plan to buy a new television to watch the game.
The National Chicken Council estimates Americans will consume 1.4 billion chicken wings during the Super Bowl 2020 weekend, 27 million more than last year.
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Source: NRF/Prosper Insight & Analytics[/caption]
Spending Will be Driven by Consumers Aged 25–44
The biggest spenders will be those aged 35–44, who say they will spend an average of $136.41, followed by 25–34-year olds at $135.27. The lowest average spenders are those 65 years and older, at just $38.84. Also, 31.7% of 35–44-year olds plan to host a party, more than any other age group.
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Source: NRF/Prosper Insights & Analytics[/caption]
The survey also uncovered regional differences: Spend per person in the South is expected to jump 24.9% over last year, versus a 9% national average increase, to $98.76. This is followed by the West, up 7.3% to $90.16. Perhaps unsurprisingly since neither team in the game is from these regions, average spend in the Northeast is expected to fall 5.4% to $89.79 and the Midwest at $68.47.
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Source: NRF/Prosper Insights & Analytics[/caption]
Some 75.2% consider the TV advertisements entertainment, a percentage that has remained relatively steady over the years, while a modest 11.6% said they believe the advertisements influence their buying decisions. Commercials carry more weight among younger viewers: 18.8% of 18
–24 year olds said they believe Super Bowl advertisements influence their buying decisions, and 20.7% said the commercials prompt them to search online for more product-related information.