Avocados from Mexico is launching its GuaAImole tool just in time for the Big Game on Feb. 11.
The 2024 Super Bowl is approaching, and it promises to live up to superlatives. From the possible appearance of megastar Taylor Swift supporting Kansas City Chiefs tight end Travis Kelce to the glitzy location in Las Vegas to performances by Usher, Post Malone, Andra Day and Reba McIntire, the Feb. 11 game is an event garnering a lot of attention this year and is expected to draw an audience of 200 million or more.
As fans gear up for the Big Game, grocers and CPGs are executing their game plans to boost sales. A question on many marketers’ minds following years marked by the pandemic and high inflation is, "Will consumers spend?"
[Read more: “How ALDI Plans to Win the Super Bowl”]
The National Retail Federation sees a possible spike, no pun intended. The latest data from NRF and Prosper Insights & Analytics’ 2024 Super Bowl survey found that 112.2 million people plan to throw or attend a party and another 16.2 million expect to watch the game at a bar or restaurant this year. Total spending on food, drinks, apparel, decorations and other purchases for the day is expected to reach a record $17.3 billion, or $86.04 per person.
Inflation, while steadily easing, isn’t quite relegated to the bench. New data from e-commerce accelerator Pattern shows that while the average inflation rate is around 3.4%, prices for some game day snacks are still elevated. Mayonnaise, for example, is up 36% from last year, while tortilla chips are up 27% and jalapeno poppers are up 19%.
According to fresh insights from Walmart Luminate, a product suite within Walmart Data Ventures, 90% of Walmart shoppers anticipate rising costs and the current inflation situation to impact their Big Game shopping in some way. That data affirms that most people will be stocking up to see the Kansas City Chiefs-San Francisco 49ers matchup, with 64% planning to watch at home and 20% saying they will watch at someone else's home.
Despite lingering inflation, grocers can take advantage of opportunities as the grip of high prices loosens. Andy Keenan, EVP and general manager at sales and marketing services provider Advantage Solutions, noted that as nonalcoholic beverages are gaining in popularity, grocers can promote those products to party hosts and guests. “Expect to see such drinks offered at many Super Bowl gatherings, as well as featured in spots among the event’s famous commercial lineup,” he said.