Team spirits are high as World Cup boosts sales
11 Jul 2018
The England flag is flying high ahead of tonight’s clash, as the Three Lions take on Croatia in the Semi-Finals – the first time in 28 years that England is through to the Semi’s in the Football World Cup.
Figures show that 19.9 million people tuned in to the BBC to see England emerge victorious in a stunning win against Sweden on Saturday, with a further 3.5 million expected to have descended upon England's 40,000 pubs and bars. And according to bookmakers Ladbrokes, England’s match against Croatia tonight is set to break viewing figure records in the UK.
But whilst much of England is on edge with electric excitement, not only is World Cup fever high but so is consumer confidence and retail sales. According to data from the Centre for Retail Research (CRR) the UK will benefit from additional spending of over £1 billion this year.
“Every goal scored by an England footballer - right the way to the Final - would be worth £165.3 million to England’s retailers and an extra £33.2 million to pubs, hotels and restaurants,” the CRR report says.
If England make it to the World Cup Final on 15 July, the UK economy could be boosted by as much as £2.7 billion, CRR says, whilst City AM reports that football fans main focus of spending is on food and drink, TVs, sportswear and going out.
Commenting on the impact of the feel-good factor amongst England-supporting consumers, the Institute of Economic Affairs says: “The UK is experiencing two unusual phenomena this summer - unbroken sunshine and a World Cup run which is so far exceeding expectations. And it’s not just the feel-good factor we have to smile about. When England’s football team is playing, Brits are spending more on food, drinks and electronic goods. It’s a great summer so far, and the longer it continues the better it is for our economy.”
As Prince William, President of the Football Association, says: "The whole country is right behind you tonight. Come on England - it's coming home!"
For information about how our retail and hospitality business experts can help you understand and evaluate your business through real-time information on actual performance, contact Steve Govey or your usual Beavis Morgan Partner.