As expected, the Super Bowl created quite a spike in consumer spending across Las Vegas. According to a new report from Fiserv, the week leading up to the big game saw double digit growth in bars and pubs, sportsbook/gaming, catering and sports apparel. A few even seemed to spike the ball on Sunday, the company states.
Below are the categories that saw the most year over year (YOY) growth during the week leading up to the Super Bowl:
- Restaurants: 7.6%
- Bars and Pubs: 16.2%
- Beer/Wine/Liquor Stores: 5.4%
- Sportsbook/Gaming: 19.4%
- Wholesale Clubs: 3.3%
- Caterers: 37.5%
- Sports Apparel: 148.8%
During the two weeks leading up to the big game day, spending on Hotel/Leisure/Travel accounted for the biggest share of wallet, between 31% – 35%, according to Fiserv. Spending on Food & Beverages and Restaurants combined for a range of 26% – 30%. But on game day, spending on food jumped to 45% share of wallet.
Credit vs. Debit Spending
Overall, credit was the preferred and dominant card type for spending during the week leading up to the Super Bowl. Meanwhile, some areas of spend were driven more by debit, according to Fiserv. Below are some of the more popular segments for spending with credit:
- Tourist Attractions and Exhibits
- Taxicabs/Limousines/Rideshare
- Jewelry Stores
- Healthy and Beauty Spas
- Bars and Pubs
- Clothing Stores
All in all, the Super Bowl seemed to have a very positive impact on the local economy in Las Vegas. This just goes to show how much of an impact big events like this can have on businesses in the immediate area.
