How a Different Kind of Hike May Impact the Play for Big Game Shoppers

If the nail-biting recent playoff games are any indication, the upcoming Super Bowl will be one to watch. Financial institution Wells Fargo has released its rookie report projecting how higher food costs will affect consumers’ budgets for their Big Game gatherings.

According to the report, food and beverage spreads for this annual gridiron event will cost between 8% and 14% more than in 2021.  Grocers can adjust their playmaking a bit to score with price-minded shoppers, San Francisco-based Wells Fargo suggested.

For example, chips, dips, vegetables and other appetizers are priced 2% to 5% higher in 2022, but are a better value for entertaining than certain proteins for the grill that have spiked 12% to 18% in the same time period. Wells Fargo called out potato chips, avocados/guacamole, and veggies like carrots, celery and tomatoes in particular, for being on the lower end of cost hikes.

On the flip side, Wells Fargo’s report points out that most retailers will be charging more for both prepared chicken wings and frozen poultry than in the past year. The same is true in the beef category, where cuts like steaks are more than 23% costlier in some areas; ground beef can be a bigger mover for shoppers who still want to serve up red meat for their game day parties.

Michael Swanson, chief agricultural economist for Wells Fargo, wrote in the report that it’s a good time to promote pork as an option. “Although prices are up 7%, it’s a bargain for your meat this year,” Swanson advised. “Things to chew on: pork tacos, pork meatballs and pork sliders.” 

In beverage, the Wells Fargo report showed that 2-liter bottles and 12-can packs of soft drinks experienced an uptick over the past year. The Big Game staple of beer is up, but at a more moderate rate of 4%.

Super Bowl LVI will be played between the Cincinnati Bengals and the Los Angeles Rams on Feb. 13 at SoFi Stadium, in Inglewood, Calif.