The Super Bowl is a business juggernaut, driving nearly $14 billion in consumer spending, according to the National Retail Federation.
Beyond consumer spending on food, which averages around $75 per person, another big winner associated with the Super Bowl is advertising. Did you know the average 30-second spot in the big game costs around $5.5 million?
Tune in to this morning’s WJR Business Beat to learn what advertising with a Super Bowl spot gets you:
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Good morning, Paul.
Well, to kick us off this week, let’s talk about one of the biggest consumer spending events in our country: it’s the Super Bowl. We’re all feeling that morning after hangover from too much chips, of course. Now on the face of it, it’s just a sporting event, right? Just a football game.
But a deeper look, this is a business juggernaut driving nearly 14 billion in consumer spending, according to the national retail Federation, around this single event.
The average person spent around $75 to enjoy this year’s game, and most of that spending went toward food and drinks, of course, giving new meaning to the title, the Super Bowl. For many of us, unfortunately, that refers to the oversized bowl of chips we consumed.
Next biggest categories earning a part of that consumer spend: team apparel and televisions.
A deeper look through Google search patterns, the foods that peak in sales around the Super Bowl each year in the U.S. are buffalo wings, seven-layer dip and potato skins. Now, beyond consumer spending on food, another big winner associated with the Super Bowl, it’s advertising. The average 30-second spot in yesterday’s big game costs around $5.5 million.
What does that get you?
Well, the folks that Digitate calculated what that spend earns in terms of benefit. In the digital sphere that can amount to 3.7 million paid clicks on Drizzly, that’s the alcoholic delivery on-demand company. How about 6.8 million clicks on Walgreens search ads, 2.8 million clicks on CVS search ads and 275 million impressions on your YouTube video.
The impact of advertising on the Super Bowl is just second to none. Sports, snacks and good old American capitalism all rolled up into one driven by one of the biggest spectacles in our country: the Super Bowl.
I’m Jeff Sloan, founder and CEO of StartupNation.com, and that’s today’s Business Beat on the Great Voice of the Great Lakes, WJR.
The post WJR Business Beat with Jeff Sloan: Spending Impact on the Super Bowl (Episode 172) appeared first on StartupNation.
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February 17, 2021 at 03:17AM by StartupNation, Khareem Sudlow
