Consumers to Spend More for Superbowl 50 Parties: Market Track 1/25/2016
As another football season comes to a close, fans across the country have already committed to spending more on their viewing parties in advance of the “Big Game” than in previous years. A new survey conducted by Market Track, LLC, a provider of advertising, promotional, brand protection and pricing intelligence solutions in North America, polled 1,000 consumers nationwide in order to determine the latest trends and shopping behaviors both retailers and grocers can expect heading into Super Bowl® Sunday.
“Super Bowl Sunday is the first major retail and sales event following the holiday season, so it is usually an early indicator of how the retail sector will fare for the year,” said Traci Gregorski, SVP of marketing at Market Track. “This year expect to see a significant evolution in how consumers choose to shop, interact with media, and inform their purchases. Retailers will have to differentiate through experiences and service to capture the attention of the always on shopper.”
The survey reveals that approximately 22% of the nation’s 123 million households will host a party for Super Bowl 50. Of that group, 58% indicated that they plan on spending more on food and supplies this year than they did for Super Bowl XLIX. By comparison, only 10% of hosts plan on spending less than the year before. While the majority of individuals plan to spend more on their party than the year before, less than 10% of all those surveyed plan on purchasing a new TV in advance of the game. However, 17% of millennials indicated they would purchase a new TV for the big game, reinforcing the reported trend of that demographic group’s investment in items for their homes.
More Millennials Celebrating in 2016
In a breakdown by age, Market Track’s research has shown that young, wealthy consumers are the main demographic hosting Super Bowl parties this year, with 30% of millennials and 28% of those making more than $100,000 planning a party.
Regardless of demographic, 74% of consumers will be watching the highly anticipated commercials that air during the broadcast. However, the survey found that consumers have not fully engaged in the interactive efforts among Super Bowl advertisers. A mere 12% have submitted content for Super Bowl commercials, the majority of whom are millennials.
On average, the size of this year’s gatherings will range from 6 to 15 people, with 32% hosting parties of 6-10 and only 15% hosting more than 20 guests.
Headquartered in Chicago, Illinois, Market Track is a provider of subscription-based advertising, brand and pricing intelligence solutions in North America. Through monitoring trade and promotional advertising, pricing and e-commerce activity, brand protection and competitive advertising activity, Market Track provides the most comprehensive coverage of key media channels available.