NRF Survey: American consumers will spend $14.1 billion to watch the Atlanta Falcons face the New England Patriots

Washington, 2017-Jan-26 — /EPR Retail News/ — American consumers will spend an average of $75 for a total of $14.1 billion as an estimated 188.5 million watch the Atlanta Falcons face the New England Patriots in Super Bowl LI on February 5, according to the National Retail Federation’s annual Super Bowl Spending Survey conducted by Prosper Insights & Analytics. Viewership is about the same as last year’s 188.9 million but the spending is down from an average of $82 and a total of $15.5 billion.

“With the holidays past us, consumers are looking forward to spending time with friends and family for some good old-fashioned fun to celebrate the big game” NRF President and CEO Matthew Shay said. “Retailers will help fans prepare by making sure they are well stocked on decorations, party food, accessories and other Super Bowl necessities.”

Of the 76 percent of those surveyed who plan to watch the game, 80 percent say they will purchase food and beverages, 11 percent will buy team apparel or accessories, and 8 percent will splurge on new televisions to watch the game at home.

According to the survey, the 45 million people hosting a Super Bowl party should expect a full house, with 27 percent of those surveyed planning to attend a party to celebrate the big game. Bars and restaurants can also expect a good turnout with 12.4 million people planning to head out to watch at their favorite local spot.

Over 43 percent of viewers say the most important part is the game itself, 24 percent cite the commercials,15 percent want to hang out with friends, and 12 percent of say the half-time show is their top highlight.

The survey also found that 78 percent of viewers watch the commercials for entertainment and 18 percent say they make them more aware of the advertiser’s brand, but only 10 percent say the commercials influence them to purchase products. Sixteen percent say advertisers should save their money and pass the savings along to the consumers, and 10 percent say the commercials make the game last too long.

“As a favorite American past-time, the Super Bowl is a great chance for viewers to reconnect with friends and family after having a nice break after the holiday season,” Prosper Principal Analyst Pam Goodfellow said. “Even though the number of viewers is slightly down this year, plenty are still planning to enjoy the day by watching it at their favorite bar or friend’s place, wearing their lucky jerseys and hoping their favorite team wins.”

The survey, which asked 7,591 consumers about their Super Bowl plans, was conducted January 4 -11 and has a margin of error of plus or minus 1.1 percentage points. Full data results will not be published on NRF.com but news media and analysts who require additional information can contact press@nrf.com.

About Prosper Insights & Analytics
Prosper Insights & Analytics delivers executives timely, consumer-centric insights from multiple sources. As a comprehensive resource of information, Prosper represents the voice of the consumer and provides knowledge to marketers regarding consumer views on the economy, personal finance, retail, lifestyle, media and domestic and world issues. www.ProsperDiscovery.com

About NRF
NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs — 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

Contact:
Ana Serafin Smith
(202) 626-8189
press@nrf.com
(855) NRF-Press

Source: NRF

NRF applauds warning from New York Fed CEO that border adjustment tax would have “unintended consequences” for American consumers

NEW YORK, 2017-Jan-19 — /EPR Retail News/ — The National Retail Federation applauded a warning from Federal Reserve Bank of New York President and CEO William Dudley today (January 17, 2017) that a border adjustment tax would have “unintended consequences” for American consumers.

“Mr. Dudley and retailers are in agreement: a border adjustment scheme would be a risky experiment for the American economy,” NRF Senior Vice President for Government Relations David French said. “Economic theorists are playing with fire and it’s the consumer who ultimately will lose.”

“We are pleased to hear Mr. Dudley voice his support for corporate tax reform,” French said. “The best way to grow our economy is for Congress to lower tax rates for all businesses, not pick winners and losers.”

In a keynote session at NRF’s Retail’s BIG Show this morning, Dudley was asked about his views on the border adjustability provision in the “Better Way” tax reform plan proposed by House Speaker Paul Ryan, R-Wisc., and Ways and Means Committee Chairman Kevin Brady, R-Texas.

“That type of adjustment proposal in the House, it’s a pretty dramatic change,” Dudley said. “I think that it will probably lead to a lot of changes in the value of the dollar, the prices of imported goods in the U.S. I’m not sure that that would all happen very smoothly and I also think there could be lots of unintended consequences.”

“I’m not of the view that import prices would go up 10 percent and the dollar would appreciate by exactly 10 percent so that the value that retailers pay for the imported goods would be exactly the same in dollar terms.”

“I’d like to see corporate tax reform and I’d like to see something that does reduce some of the distortions that occur, but I want to see something I think that is probably a little less dramatic.”

The border adjustment provision of the plan would, in effect, create a border tax on imported goods by ending retailers’ ability to deduct the cost of merchandise that they import. That means retailers would be taxed at nearly the full selling price of imported merchandise rather than just their profit.

That would have significant implications for retailers and other industries that import goods into the United States, including automobiles, technology, food and fuel. Analysis by NRF and many of its member companies indicates that the proposed tax would drive up costs, erode profits and exceed any benefits from a lower corporate tax rate. It would require price increases of up to 15 percent to retain profitability, effectively creating a new tax paid by consumers.

NRF is the world’s largest retail trade association, representing discount and department stores, home goods and specialty stores, Main Street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the United States and more than 45 countries. Retail is the nation’s largest private sector employer, supporting one in four U.S. jobs – 42 million working Americans. Contributing $2.6 trillion to annual GDP, retail is a daily barometer for the nation’s economy.

Contact:
Robin Roberts
press@nrf.com
(855) NRF-Press

Source: NRF

National Association of Convenience Stores survey: 6 in 10 American consumers say that convenience stores are offering healthier, nutritious products and serving sizes

ALEXANDRIA, Va., 2015-4-28 — /EPR Retail News/ — Over one in three Americans (34%) say that they have purchased more snacks that are considered “healthy choices” over the past year, and they are increasingly turning to convenience stores for these healthy purchases, according to survey results released today by the National Association of Convenience Stores (NACS).

More than six in 10 American consumers (61%) say that convenience stores are offering healthier, nutritious products and serving sizes. This was the third consecutive year that a majority of Americans say that convenience stores are providing more better-for-you items.

Sales reflect growing consumer choice for food items in convenience stores. Nearly six in 10 consumers (59%) and seven in 10 of those age 18-34 (70%) say that convenience stores offer food that they feel comfortable eating. Foodservice sales at convenience stores increased 9.7% in 2014, according to NACS data.

In particular, consumers are purchasing more fresh and nutritious food in convenience stores. Overall, 44% of Americans say that convenience stores offer nutritious items, which is a strong increase from the 30% who felt that way in 2013. In addition, 43% say that convenience stores are a place to get fresh food items. Convenience stores sales of fresh fruits and vegetables (whole commodities like apples, bananas and oranges as well as fresh-cut/value-added produce like prepared salads, fruit cups and other packaged produce) increased 10.3% to $362 million in 2014, according to Nielsen data.

“Convenience stores are increasingly becoming food markets for time-starved consumers seeking snacks, meals and grocery items that are both fast and healthy,” said NACS Chairman Steve Loehr, vice president of operations at LaCrosse, WI-based convenience store chain Kwik Trip.

The NACS survey was conducted by Penn, Schoen and Berland Associates LLC; 1,103 consumers were surveyed April 7-9, 2015.

Founded in 1961 as the National Association of Convenience Stores, NACS (nacsonline.com) is the international association for convenience and fuel retailing. The U.S. convenience store industry, with more than 151,000 stores across the country, posted $696 billion in total sales in 2013, of which $491 billion were motor fuels sales. NACS has 2,100 retail and 1,600 supplier member companies, which do business in nearly 50 countries.

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