(KTXL) — When the Philadelphia Eagles and the Kansas City Chiefs meet in Super Bowl LVII, billions of dollars will likely be spent by fans and consumers.
•Video Player Above: Eagles super fans ready for Super Bowl LVII
According to data from the National Retail Federation (NRF), total spending for food, drinks, apparel, decorations, and other purchases for the day is expected to reach $16.5 billion or $85.36 per person.
This year’s estimated number is a $1.9 billion increase from the 2022 total of $14.6 billion. The estimated 2022 amount is still lower than in 2020 when Americans spent $17.2 billion. The Super Bowl in 2020 occurred months before COVID-19 rapidly spread throughout the nation causing lockdowns in the country.
Data says 79% of consumers’ money this year is estimated to be spent on food and drinks while 12% is estimated on team apparel with 10% estimated for TVs and 7% predicted to be used on decorations and furniture.
Is inflation impacting food for Super Bowl parties?
With Super Bowl party budgets mostly going to food and drinks, prices for two staples — wings and guacamole — came down in 2023.
According to a Wells Fargo report cited by GoBankingRates, a personal finance website, prices for chicken wings are down 22% with the current price coming at $2.65 a pound, down from 2021’s price of $3.38.
After a year of surcharges and low supply, the price for avocados is down around 20% less than in 2022, averaging $1.20 a piece versus $1.50 last year.
Burgers and other protein foods have also dropped with sirloin and ground beef prices dropping almost $1 a pound since December. Sirloin and beef are averaging $10.17 a pound and have been down since July 4.
As for drinks, such as soda and alcohol, the cost has gone up for those products. The Wells Fargo report says soda has seen a 25% jump in 2022 due to surcharges for ingredients and shipping.
For beer, prices are up $11, according to the report, while wine and other spirits have seen price jumps at 4% and 2%.
Where are people watching the game?
The NRF found that 192.9 million adults plan to tune in to the game with 103.5 of those people planning to throw or attend a party. Another 17.8 million plan to watch the game at a bar or restaurant.
When it comes to the action on the field, NFR’s data said that 42% of viewers are interested in the game the most. For the halftime show, 18% of viewers are interested in watching Rihanna’s performance. The commercials, another Super Bowl staple, are important for 19% of viewers.