It is Super Bowl weekend. Here are some interesting facts about the economic impact of this event:
✅ 77% of Americans are estimated to tune in to Super Bowl LVIII.
✅ Total spending by American consumers on the Super Bowl is estimated to reach about $17.3 billion, with 80% dedicated to food and beverage.
✅ The average household is estimated to spend $86.04 on gameday essentials.
✅ Super Bowl LVIII is expected to bring an additional estimated 150,000 people to Las Vegas.
✅ During Super Bowl weekend in Arizona, hotels saw a 90% occupancy rate and generated over $91 million in room revenue.
✅ 200,000 passengers traveled through Sky Harbor International Airport the Monday after the Super Bowl, marking the single busiest day in the airport’s history.
✅ The Super Bowl drives beer sales about 20% above average nationally.
Retailers in San Francisco and Kansas City can expect a 10-20% increase in beer sales during the Super Bowl.
✅ Wings, pizza, salsa, dips, and spreads are top items for Super Bowl watch parties.
✅ 11.2 million pounds of potato chips are expected to be consumed during the game.
As you can see, the Super Bowl is clearly a money-printing machine for many small businesses who know how to capitalize on it.
However, to capitalize successfully on it, good forecasting and planning are required to make sure that you are generating profit and not just revenue.
For example, some areas that small businesses should be forecasting and planning on are:
💡Pricing
💡Cost control
💡Inventory management
💡Marketing ROI, and
💡Customer retention
What strategies do you think small businesses can implement to effectively capitalize on events like the Super Bowl and ensure profitability?
Share your insights and experiences in the comments below! #SuperBowl #SmallBusiness #Profitability
Co-Founder JK Creative NYC
10moI'm not a soda person, but "dressin' up" a Pacifico with some Tabasco sauce and fresh lime is one of my go-to's (Evan Francks). I'm here for it Alysia Ross !