Americans' Super Bowl spending to rise despite inflation worries
2025-02-08
Category: economic

Americans are getting ready for the&#xA0;Super Bowl to kick off on Sunday, and while spending on festivities related to the big game is up, more fans are wanting to dial it back than wanting to spend more, a new report found. A study by LendingTree found that 75% of Americans said they&apos;ll tune into the Super Bowl but that of those who plan to watch nearly one-third, or 31%, say they&apos;ll spend less on Super Bowl festivities than last year &#x2013; well above the 19% who say they&apos;ll spend more. Half of Americans say their spending will be the same as last year. Americans who do plan to&#xA0;spend on Super Bowl festivities expect to spend $142 on average, an increase of 22% from $116 a year ago. The top items they plan to spend on include food and beverages, as well as fan gear. &quot;Even though more people are saying they&apos;re going to spend less, the average amount for people who are going to spend was up fairly significantly,&quot; Matt Schulz, chief credit analyst at LendingTree, told FOX Business. &quot;You&apos;re talking about $25 which isn&apos;t going to change most people&apos;s lives, but it&apos;s not nothing either when you&apos;re just talking about getting together to watch a football game with friends.&quot; FOOD DEALS ABOUND FOR SUPER BOWL: WHAT CHAINS ARE OFFERING  &quot;It&apos;s a pretty significant divide there and, again, I just think that you can look back and blame so many things on inflation and high prices and high interest rates and all that, and I think this is another one of those cases most likely,&quot; Schulz said. The report noted that 41% of Super Bowl watchers say they&apos;ll place bets related to the game, including 66% of Gen Zers, 59% of parents with young children, 56% of Millennials and 51% of men. Most plan to place smaller bets, with just 41% planning to wager $100 or more and a similar number reporting they&apos;ll use a&#xA0;credit card to place their bets. &quot;Certainly, as we&apos;ve seen since the pandemic, sometimes people just like spending more on what they want to spend on in order to kind of make up for how stressful a year it&apos;s been or crazy things have been,&quot; Schulz said. DURING SUPER BOWL LIX, FANS WILL EAT A STAGGERING AMOUNT OF CHICKEN WINGS  LendingTree&apos;s findings come as a separate study conducted by the&#xA0;Bank of America Institute showed that Americans&apos; spending on spectator sports reached an all-time high in 2024. The Bank of America Market Landscape Insights study found that consumers spend an average of $1,122 on sports annually &#x2013; a figure that includes everything from attending games to buying athletic equipment. SUPER BOWL LIX BATTLE: CHIEFS AND EAGLES ARE BOTH VALUED IN THE BILLIONS  Bank of America&apos;s report delved into the local economic impact of&#xA0;live sporting events by looking at last year&apos;s Super Bowl LVIII in Las Vegas, which pushed retail spending 8% higher compared to the rest of the month. Super Bowl LIX will air on FOX this Sunday, Feb. 9, at 6:30pm Eastern. The game is being played in New Orleans, Louisiana. GET FOX BUSINESS ON THE GO BY CLICKING HERE The Kansas City Chiefs &#x2013; led by Patrick Mahomes and Travis Kelce &#x2013; will look to make history as they pursue a third straight Super Bowl title. They will face the Philadelphia Eagles, as Jalen Hurts and Saquon Barkley look to bring the Chiefs&apos; run to an end.