This Week in Retail: Super Bowl Sales Wrap Up; Latest CPI Data
The Super Bowl is within arm’s reach and grocers this week are promoting party-centric items including finger foods, frozen pizzas, and beverages. An estimated 184.5 million U.S. adults plan to cheer on the Cincinnati Bengals and Los Angeles Rams this Sunday evening, according to a National Retail Federation survey.
Seafood and beef each secured nearly 33% of promotional activity this week, according to the Urner Barry retail survey. Chicken climbed to 11.4%, up from 9.2% last week. Pork cuts were about even with recent weeks and had a 19% share of retail buying opportunities.
The National Retail Federation reports that a combined 35% of football fans are planning on either throwing a party or attending a party for the big game this year. In the latest 15 years, 67% to 82% of total spending for the Super Bowl has been allocated towards food and beverages, according to NRF data. Chicken is likely to be a highly sought-after item in the meat case and grocers are anticipating an influx of spending on both fresh and frozen wings...
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