High Snack Prices vs. Hungry Consumers: Super Bowl Insights
The words “rising inflation” are words neither brands nor consumers like to hear. With the upcoming Super Bowl around the corner, Pattern’s team of data scientists analyzed the prices of popular Super Bowl snacks and uncovered prices are up compared to previous periods. Consequently, brands can adapt to the new playing field to optimize their profitability. Pattern’s ecommerce accelerator technology pulls trends and insights so brands can adapt their ecommerce strategy and make knowledge-based decisions. Learn Pattern’s recent Super Bowl insights and trends for snack prices.
Findings: Super Bowl Snack Prices Rise in 2023
The Super Bowl rivalry is going to be more than between two football teams—it will also be between consumer expectations and snack prices. From mayonnaise and ranch to mozzarella sticks and crackers, consumers and brands will see a price increase for gametime snacks and condiments. Pattern’s data science team found the average price of all snack foods and condiments rose by 6% from Q1 2022 to Q1 2023, with some party snacks seeing increases as high as 35% from last year. Here are some party snack increases since last year to note during your halftime break:
- Mayonnaise +35%
- Mozzarella sticks +27%
- Ranch +26%
Rising Prices Could Mean Less Spending
In times of rising inflation, consumers tend to change their spending habits, so many brands see less traffic and fewer sales, leading to lower profitability. For example, premium potato chips football fans might usually buy may be swapped out for lower-price substitutes or no chips altogether. But looking at historical data and inflationary changes, brand leaders should be aware that as inflation stabilizes and eventually lowers, they can drop prices to pre-inflationary prices, a return of consumer loyalty, and, eventually, see profitability increase.
How Pattern’s Data-driven Insights Help Brands Prepare
As an ecommerce accelerator, Pattern is determined to help global brands succeed.. We’re obsessed with gathering data, highlighting the insights, and identifying trends in order to help brands in all categories accelerate their business on all ecommerce marketplaces. We know how to help brands turn ecommerce marketplace and consumer data into an actionable and successful strategy to grow profitability-all season long. For more marketplace information specific to your category, contact us here.