Football fever is set to boost consumer spending across all retail sectors, with grocery and electronics likely to be the big winners, according to the latest research by the British Retail Consortium (BRC).
Retail spending is projected to increase during the Euros 2024 tournament, according to the BRC’s Consumer Sentiment Monitor, supported by Opinium.
The new poll of 2,000 UK shoppers revealed that “the nation’s love of football will translate into additional purchases” with grocery and electronics likely to fare best.
One in eight people, or 13% of those surveyed, plan to spend more on drinks and snacks, while more than one in 20 plan to buy new screens to watch the game on ahead of the tournament kicking off this Friday.
In addition, 9% of consumers plan to host or attend gatherings with family and friends to watch matches, while 6% of shoppers expect to buy a new TV or electronic device to watch and keep up with the Euros.
Some 4% of consumers plan to purchase official merchandise in the run-up to the tournament to support their teams.
The results found that people between the ages of 18 and 24 were most likely to drive up spend, with 24% consumers in this age group saying they planned to spend more on groceries, while only 4% of those aged 55 and above planned to do likewise.
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.”
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