Major sporting events highlight massive consumer spending trends.
Large-scale events impact local economies and industry-specific demand.
Understanding economic impacts helps investors spot seasonal market shifts.
Investing
Zoe Team
2 min read
Why do big games impact the economy?
High spending on food, travel, and retail during these events creates a temporary surge in specific economic sectors.
How does this affect investing?
Investors can analyze trends in consumer spending on items like food and entertainment to inform their strategies.
Are these spending spikes predictable?
Yes, major annual events create seasonal patterns that are often factored into consumer behavior analysis.
The Philadelphia Eagles and New England Patriots will be facing off this upcoming Sunday in Super Bowl LII. With the Patriots hot off their win last year and the Eagles entering the Super Bowl for the first time since their 2004 face-off with the Patriots, it looks to be a fierce game in cold Minneapolis.
One aspect of the game that often goes unnoticed is how big an impact it has on our economy and our wallets. Beyond the notoriously expensive ad slots, every year consumers across the country spend billions of dollars on food, drinks, parties, and more!
Here are some estimated statistics for Super Bowl Sunday based on last years figures:
Chicken wings consumed: 1.33 billion
Pizza slices bought: 11 million
Money spent on
potato chips: $227 million
beer, malt, and cider: $1.2 billion
wine: $594 million
hard liquor: $503 million
Total related consumer spending:
The Falcons b
: Priceless
Overall, that means that every spectator and viewer will spend, on average, $126 on the Super Bowl. Although this adds up to a massive sum of money as the millions of fans across the country get ready to watch it every year (111.9 million in 2017 to be exact) it is likely you will be far below the money you’d have to put up to attend the event in person. This year’s Super Bowl is looking like it will be the most expensive ever, with an average resale cost of over $9,000 compared to last year’s roughly $6,000.
Although Super Bowl consumer spending is great for the economy, it also costs employers over $3 billion in lost productivity as 16.5 million plan to miss work on Monday!
Every year the Super Bowl is a chance to get together with friends and family and watch a great American pastime. After this Sunday’s game millions of Americans will be elated, millions saddened, and millions staying home on Monday, but one common thread is that it will have a financial impact on everyone and anyone.
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