As the Super Bowl approaches this Sunday, a recent report from LendingTree indicates a complex landscape of consumer spending among American fans. While 75% of respondents plan to watch the game, a notable 31% of these viewers intend to spend less on festivities compared to last year. This contrasts with only 19% who anticipate increasing their expenditures, and half of the participants expect their spending to remain unchanged.
On average, those who do plan to spend are expected to allocate approximately $142, marking a 22% increase from $116 in the previous year. Primary spending categories include food and beverages and fan merchandise. Matt Schulz, chief credit analyst at LendingTree, highlighted the significance of this increase, noting that while $25 may not drastically affect individual finances, it is still a notable rise in the context of social gatherings centered around the game.
The report also emphasizes broader economic factors affecting consumer behavior, such as inflation and high interest rates, which could contribute to the decision of many to cut back on spending. Approximately 41% of viewers are expected to place bets related to the game, with a higher likelihood among younger demographics and parents with small children. Most bettors plan to wager modest amounts, with 41% intending to bet $100 or more.
Interestingly, a separate study from the Bank of America Institute revealed that American spending on spectator sports reached an all-time high in 2024. This underscores a growing trend in sports-related expenditures, which has broader implications for local economies, particularly during large events like the Super Bowl. Super Bowl LIX will feature the Kansas City Chiefs and the Philadelphia Eagles, airing on FOX at 6:30 PM Eastern.