Super Bowl sales kickoff
Despite growing worries about a possible recession, U.S. consumers plan to spend, spend, spend in preparation for Sunday’s Super Bowl and local retailers are optimistic they’ll see their share of the action.
Americans will spend $9.5 billion on televisions, food, furniture and team memorabilia leading up to the big game pitting the New England Patriots against the New York Giants, according to the Retail Advertising and Marketing Association, a division of the National Retail Federation.
Super Bowl spending will increase a whopping 9.2 percent compared to the $8.7 billion spent last year, the advertising group reported.
“People are still spending money on the things they want. (They’re being) typical American consumers,” said Mike Gatti, executive director for the advertising group.
U.S. consumers spent an estimated $26.3 billion on gift cards this Christmas season, and Gatti said, “A lot of people may be redeeming their gift cards for something Super Bowl” related.
The Super Bowl gives retailers a nice boost after the holiday season, he added.
