As the annual event turned national holiday known as the Super Bowl approaches, retailers and marketers are gearing up to fight for consumers’ dollars. The game is not only perennially the most-watched television event of the year and a gold mine for advertisers, but also a bonanza for food, electronics, and apparel retailers as consumers typically spend as much during Super Bowl weekend as they they do for Father’s Day. However, consumers are not surprisingly planning on cutting back their discretionary spending this year, and marketers will attempt to strike the right chord with shoppers still extremely worried about their personal finances.
According to the Retail Advertising and Marketing Association’s (RAMA) 2010 Super Bowl survey, conducted by BIGresearch, the average consumer will be cutting back their spending from $57.27 to $52.63 this year, while total spending on game-related merchandise, apparel and snacks is expected to decrease to $8.868 Billion from $9.563 a year ago. On a more positive note, electronics retailers can expect a brisk business, as at least 3.6 million Americans plan on purchasing a new television for the big game, up from 2.6 million in 2009.
“With slight improvements in the economy boosting consumer’s confidence, many people are looking at flat screen televisions as a way to splurge on something they’ve had their eye on for a while,” said Mike Gatti, Executive Director, RAMA. “Retailers have restocked their shelves and are already offering low prices on popular TV brands for those who have their heart set on watching the game in better quality this year.”
Continue reading ‘Super Bowl 2010 Outlook: More Viewers, Less Spending’
