A Mid-Winter Super Boost for the Economy
- Posted by on Feb 3, 2012 in CHI Contemplation
The Retail Advertising and Marketing Association is out with its annual survey - http://retailindustry.about.com/od/statisticsresearch/a/superbowlsurvey.htm - documenting the “Super Bowl effect” on the U.S. economy. Talk about economic stimulus! Who needs Congress when we have the NFL?
Based on its survey, RAMA predicts Americans will engage in $8.7 billion worth of Super Bowl-related spending. This is down from more than $10 billion last year, a sign of a still-weak economy perhaps. Television sales spike during the run-up to the Super Bowl – more than 5 million Americans are predicted to buy a TV for this year’s big game. The grocery industry gets a Super Bump, too, with more than 70 percent of viewers expected to buy food and beverages specifically for consumption during the game. Even the apparel business cashes in on the game, as RAMA predicts 8.2 percent of Americans will buy apparel and accessories related to the Giants and Patriots. And don’t forget the one-day boost in hospitality business, as more than 9 million Americans are expected to watch the game at a restaurant or bar. All these numbers have remained fairly constant during the past five or six years, RAMA reports.
With roughly 70 percent of America tuned in, the Super Bowl has established a unique place among the nation’s annual observances and rituals. We seem to love the game and the commercials (although most of this year’s spots have been leaked and viewed by millions on the Internet). But, unless you have a team in the game – or some money on the line – why is it so important? Maybe it doesn’t matter. There could be as many reasons as there are people watching the game. Even the Super Skeptics among us can’t discount the impact of what’s become a cultural phenomenon and one of the marketing and advertising industry’s biggest annual events. So live it up, fans. And may the best commercial – er, team – win!
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