Euro 2024 set to give retail sales a boost
England and Scotland’s Euro 2024 exploits are "likely to net retailers a vital spending boost", according to a new survey carried out on behalf of the British Retail Consortium (BRC).
The poll of 2,000 UK shoppers suggested that the nations’ love of football will translate into additional purchases and, while 4% plan to purchase official merchandise, unsurprisingly the big winners will be groceries and electronics.
The results are part of the BRC’s ‘Consumer Sentiment Monitor’, supported by Opinium, and come ahead of the opening match of the Euros this Friday, which will see Scotland take on Germany, followed by England playing Serbia on Sunday.
Kris Hamer, Director of Insight at the BRC, said: "British retailers could score a hat-trick, with boosts to groceries, electronics and official merchandise. After sluggish spring sales, shoppers are expected to kick off their summer spending at the Euros. Here’s hoping England and Scotland can make it all the way to the final."
After weak retail sales growth in May of just 0.7%, the news of a boost to sales for the Euros will be welcomed by retailers.
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Earlier this week, the England team touched down in Germany ahead of the tournament, decked out in their new ‘M&S x England’ range. It’s a 16-piece line including a performance blazer, bomber jacket, polo shirt, shorts, cargo trousers and suede loafers, which is also available for fans to buy - with prices ranging from £35-£70.
Sports Direct also launched a new campaign yesterday called ‘Football Fever Starts Here’ to coincide with Euro 2024.
The campaign, which is rolling out across TV, OOH, digital, in-store and social media, is crammed with sportswear and football related product, including England’s new jersey – launched in time for the tournament.
M&S, Sports Direct and plenty of other retailers, will be hoping BRC’s prediction of a sales boost rings true, especially as 9% of those surveyed plan to host or attend gatherings with family and friends to watch matches, meaning what they wear to them may well be new purchases.
However, 13% plan to spend more on beer, wine, spirits, snacks and takeaways, while 6% of shoppers expect to buy a new TV or electronic device to watch the games on.
