Super Bowl XLVI Set to Break Spending Records
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The game won't be the only thing that people are watching this weekend. According to a new survey by the National Retail Federation, 73 percent of respondents who will be watching the Super Bowl consider the commercials between the breaks in the action to be entertainment. This is good news for businesses that will be spending $3.5 million for a 30-second spot during Super Sunday.
Even better news for these businesses: nearly 17 percent of those who saw the advertisements were then more aware of the brand as a result, while an additional 8.4 percent said that the commercials would influence them to buy products they had seen. While that number may sound small, it is the highest in the history of the Retail Advertising and Marketing Association's Super Bowl survey. Viewers between the ages of 18 and 24 are the most likely to buy products as a result of commercials, with 14 percent responding in the affirmative.
This year's advertisements will also be shown before what is expected to be a record crowd of 173 million people who will tune in to watch the New York Giants battle the New England Patriots for the Lombardi Trophy.
"Television’s influence on consumers’ purchasing decisions is clearly not suffering from web, social and multichannel influencers — in fact, it seems to be more important than ever before," said Pam Goodfellow, consumer insights director at BIGinsight, who conducted the research for the NRF. "Though commercials are king on Super Bowl Sunday, we’ll likely also see many companies use more cross-channel methods to draw viewers’ attention, including drawing viewers to their own website and social media platforms such as Twitter, Facebook and YouTube."
Businesses who advertise will not be the only ones who are able to take advantage of Super Sunday, as spending for the game is expected to hit a record $11 billion, driven by food, electronics and team apparel sales. That comes out to an average of $63.87 per viewer, up from $59.33 that was spent by the average person last year.
A notable revenue force in this year's study will be the sale of televisions for people to watch the game. This year, the survey is expecting 5.1 million TVs to be sold, up from 4.6 million in 2011 and 3.6 million in 2010. According to the survey, the most popular item on the lists of fans will be food and beverages, coming in as the top priority for 71 percent. Team apparel and decorations followed at 8.6 percent and 6.4 percent, respectively.
"With a few weeks of anticipation ahead of them, it seems millions of Americans are already planning to have a knock-out good time for Super Bowl XLVI," said Mike Gatti, executive director at the Retail
Advertising and Marketing Association. "Hot on the heels of a solid holiday season, many retailers will look to meet consumer demand and expectations with big promotions on party essentials, including 3D televisions, team decor and apparel, and, of course, food and beverages."
The information in this study is part of the Retail Advertising and Marketing Association's 2012 Super Bowl Consumer Intentions and Actions Survey. This survey was conducted by BIGinsight and polled 9,317 consumers.
Reach BusinessNewsDaily staff writer David Mielach at Dmielach@techmedianetwork.com. Follow him on Twitter @D_M89.