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October 08, 2007
Making money in the parking lot
It's football season, and a big part of going to a game for many is the tailgating parties and feasts that happen even before the kickoff. N.C. State University economist Mike Walden says those parties have become big business. Listen
"It's estimated that there will be 50 million tailgaters this year at college and pro games, and collectively those tailgaters will spend between $7 and $15 billion on their activities," says Dr. Walden, an economist with North Carolina Cooperative Extension. "Furthermore, these figures have all doubled in the past eight years. So this is really a growth industry.
"Another element here is tailgaters are really a retailer's dream because the major of them are, studies show, high-income folks," Walden adds. "So this is why you see a lot of ads now being targeted to tailgaters for different kinds of products and services to use while you are tailgating because those folks have a lot of money to spend.
"And this," Walden concludes, "is also an interesting fact about tailgaters: TVs are marketed to tailgaters because over a third of the people who are in the parking lot tailgating never go into the stadium."
Posted by deeshore at October 8, 2007 08:00 AM