England and Scotland's Euro 2024 exploits are likely to net
retailers a vital spending boost. After weak retail sales growth
in May of just 0.7%, a new poll of 2,000 UK shoppers suggests
that the nations' love of football will translate into additional
purchases.
Groceries and electronics were the big winners, as more than
one-in-eight people plan to spend more on drinks and snacks,
while over one-in-twenty plan to buy new screens to watch the
game on.
The polling found:
- 13% of people plan to spend more on groceries, beer, wine
& spirits, and takeaways to enjoy whilst watching the Euros
- 9% plan to host or attend gatherings with family and friends
to watch matches
- 6% of shoppers expect to buy a new TV or electronic device to
watch and keep up with the Euros
- 4% plan to purchase official merchandise
Younger generations are the most likely to drive up spend, with
24% of the 18-24 year olds saying they planned to spend more on
groceries, while only 4% of those aged 55+ planned to do
likewise.
The results are part of the British Retail Consortium's
Consumer Sentiment Monitor, supported by Opinium. It
comes ahead of the opening match of the Euros this Friday, which
will see Scotland take on Germany, followed by England playing
Serbia on Sunday.
Commenting on the research Kris Hamer, Director of
Insight at the British Retail Consortium, 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.”
-ENDS-
The results are from a poll of 2,000 UK shoppers as part of the
British Retail Consortium's Consumer Sentiment Monitor – May
2024, supported by Opinium.
