Super Bowl 2024: A Unique Celebration Amid Food Inflation
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The 2024 Super Bowl is poised to be a distinctive event, marked by fluctuating food prices and inflation. According to the National Retail Federation, Americans are predicted to shell out $17.3 billion on food, drinks, apparel, and party decorations. This reflects a conscious approach to spending, influenced by the current food inflation. Key food items like chicken wings, beef, and soft drinks are experiencing price fluctuations, prompting party planners to turn towards more affordable and creative alternatives.
Influence of Rising Female Viewership and Health Trends
A notable trend is the expected increase in female viewership for the Super Bowl, which is influencing the choice of party foods. Health and wellness are now significant factors shaping Super Bowl celebrations. The focus is on striking a balance between indulgent comfort foods and healthier options. The rise of non-alcoholic beverages is another trend worth highlighting, with more and more people choosing these over traditional alcoholic drinks. Additionally, pharmaceutical advertising is making its mark on the Super Bowl as a prime advertising platform, impacting consumer awareness and decision-making about health and wellness.
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Shifts in Food Prices and Consumption
Popular food trends for the Super Bowl include chicken wings, chili, air fryer chicken wings, buffalo chicken, and a French Blonde co*cktail. However, food prices have seen a shift since last year. Chicken wings prices are higher due to a slight decrease in production, beef prices have increased by nearly 12%, and shrimp prices have decreased by 6.4%. In contrast, beer prices have remained relatively stable, while soft drink prices have seen significant increases.
Impact of Food Inflation on Consumer Behavior
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Despite the challenges posed by food inflation and fluctuating food prices, there's a strong consumer spending trend, indicating the resilience and adaptability of the American consumer market. The rise in female viewership for NFL is expected to impact the types of food served at Super Bowl parties, potentially leading to a shift towards healthier or more diverse food options. Emerging trends shaping the 2024 Super Bowl include plant-based options, sustainable packaging, unique flavor combinations, craft beers and co*cktails, and a growing interest in global cuisine.
Looking Ahead: Super Bowl Food Trends and Spending
While the cost of food at home rose 1.3% since last year, food away from home jumped by 5.2%. Chicken wing consumption is expected to be the same as last year, but with slightly lower production leading to higher wholesale prices. Beef prices are up nearly 12% from the same time last year, while the price of fresh shrimp is down nearly 6.4% since last January. Tortilla chip prices increased by 6% year over year, and potato chips were up 5%. Beer prices rose less than one full percent since last year, while soft drinks in a 12-ounce can are priced at $0.57, up 4.8% from year end 2022. Soft drinks in a 2-liter bottle are priced at $2.11, down 0.8% from December 2022. As we move closer to the Super Bowl, it will be interesting to see how these trends and price shifts influence the ultimate celebration.
