High street set for 1.33bn World Cup 2018 spending windfall if England make it through group stages
Two weeks ahead of the 2018 World Cup in Russia, Britain’s high street businesses have been promised a sales boost of up to 1.33bn, as football fever drives fans into pubs, cafes and bars to watch England compete.
According to new research, undertaken by VoucherCodes and the Centre for Retail Research, one in four people in the UK will spend money on drinks throughout during the tournament at and watch England games at their local pub.
Consumers are expected to spend 193m in high street pubs, restaurants, cafes and bars across the country throughout World Cup 2018. If Gareth Southgate’s men reach the final, this figure could reach 488m.
Meanwhile, with 86% of fans expecting to watch the tournament at home, retailers could take?£240m on food and 297m on alcohol if England surpass the group stages, with this combined figure rising to 1.12bn if the team makes it to the final.
An England final would see World Cup fever reach such a peak that the UK economy would benefit from an overall spending boost of 2.72bn, taking into account parties, barbeques and souvenir sales.
Football fans are also to spend 264m on sportswear to emulate their football heroes, rising to 463m if England make it through to the final. Almost one in ten loyal supporters were looking to purchase a new football shirt, according to the research.
London is expected to be most gripped by World Cup fever, with 60% of residents planning to watch the tournament’s television coverage. Londoners were also most likely to purchase an replica England shirt than any other region.
Total World Cup 2018 high street spending across each sector (? in millions)
Sales post-groups if England doesn’t progress
Total sales if England leave after groups
Total sales if England are finalists
Food & drink
Pubs clubs caf?
Commenting on the anticipated World Cup sales boost for high street businesses, Jimmy New, VoucherCodes director of marketing, explained how retailers could maximise their revenue.
the 2018 World Cup looks set to be a huge event in the UK, not only for football fans but for British retailers too, with a huge 1.33bn estimated to be put through the tills over the next couple of months to celebrate the tournament.
He added: Retailers and publicans can maximise the opportunity by creating a sense of occasion in their outlets. Everything from point of sale to pairing suggestions and offers, can help? tap into the World Cup fever and increase consumer spend.
VoucherCodes produced an infographic to illustrate the research
Writing for Business Advice, Jeremy Cook, chief economist at payment platform WorldFirst, helps small high street retailers grasp online exporting opportunities and establish themselves internationally. more»