BRC: EURO 2024 To Kick Off Extra Consumer Spending

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.

Source : BRC

Image : William Barton / Shutterstock / 1184182105

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.