More

    Retailers set for ‘£2.1bn boost’ during Euro 2024 games

    iStock image

    Retailers are set to see a £2.1 billion boost as consumers stock up ahead of Men’s UEFA Euro 2024, a recent report has stated.

    According to Men’s UEFA Euro 2024 Spending Report by VoucherCodes.co.uk, retailers and hospitality venues are set to make £2.75bn during the Men’s UEFA Euro 2024 campaign, kicking off on June 14. 

    About 35.4 million supporters are expected to tune into the tournament at home, bars, pubs, and restaurants. As fans look to make the most of the favourable kick-off times and summer weather, retailers can expect 4.2 million people to spend a whopping £70.8m on garden cooking products such as pizza ovens, BBQs, and BBQ accessories and utensils. 

    Of the total viewers, 30.7 million consumers will be watching at least one match from the comfort of their own home. UK retailers can expect to welcome 23.6m shoppers through their doors, resulting in sales of £2.1bn. This marks a £0.5bn, or 31 per cent increase on the 2022 World Cup.

    Spending on food and drink for celebrations is expected to account for £1.4bn of total sales, with many fans opting to watch at least one match at home, or at someone else’s home. In preparation for the games, retailers are also expected to make £288.6m on electricals, such as TV’s, £238.1m on sportswear, and £96.2m on merchandise.  

    As the stage with the most matches, retail spend is set to peak during the Group Stages (June 14th – June 26th), with fans set to spend £1.14bn.  

    Total Men’s UEFA Euro 2024 predicted retail spend by tournament stage 

      

    Retail spend (£m)  Group Stage  Round of 16  Quarter-finals  Semi-finals  Final  
    Food & Drink  693.7  176.5  202.3  259.5  37.1  
    Electricals 200.2  57.1  12.2  16.3  2.8  
    Sportswear  141.9  21.1  35.3  39.6  0.2  
    Merch  47.3  11.5  22.1  13.3  2.1  
    Garden Cooking (e.g., BBQs, BBQ accessories, pizza ovens)  32.5  11.4  11.9  12.1  2.9  
    Decorations  9.6  5.7  10.8  8.2  3.3  
    Garden Furniture (e.g., outdoor chairs, outdoor tables)  18.0  7.7  4.0  3.3  1.2  
    Other home-related items (e.g., indoor chairs, indoor sofas)  1.4  2.6  0.7  0.4  0.2  
    TOTAL  1,144.6  293.5  299.3  352.7  49.8  

    As the tournament is held in Germany with plenty of favourable kick off times, 14.4m fans will head to hospitality venues such as their local pub, bar, or restaurant to watch at least one game during the competition. This is a 115 per cent increase from the men’s last major international tournament, the 2022 World Cup, which saw hospitality venues welcome just 6.7m people. 

    High expectations for the Three Lions coupled with the tournament being held in the warmer summer months means that the hospitality sector is set to see sales of £613.7m from 12.9m spenders, as fans look to increase spending on entertainment and enjoyment. That’s a £172m, or 39 per cent increase on the 2022 World Cup.  

    Breaking this down further, UK hospitality venues are predicted to make £217.3m from food sales and £396.5m from drinks sales, equating to the sale of 110.3m pints of beer and cider, 36.1m glasses of wine, and 10.9m Aperol Spritz’. 

    Total predicted hospitality spend for Men’s UEFA Euro 2024 by tournament stage 

    Hospitality spend (£m)  Group stage  Round of 16  Quarter-finals  Semi-Finals  Final  
    Food  83.2  31.4  39.8  60.6  2.3  
    Drink  187.0  61.9  60.7  78.1  8.7  
    TOTAL  270.2  93.4  100.5  138.7  11.0  

    The Group Stages will provide hospitality venues with the greatest boost in sales, with spending predicted to reach £270.2m as 10m supporters head to their local to watch the games.  

    Michael Brandy, Senior Commercial Director at VoucherCodes.co.uk commented, “With many fans opting to watch the games at home or someone else’s home, retailers can expect a busy period in the run up to and during the tournament as fans look to stock up their kitchens with watch party essentials this summer.  

    “As many try to enjoy the sunny weather, we’ll expect to see a significant rise in summer BBQs resulting in a spike in sales for garden cooking products and garden furniture, with fans bringing their usual garden spending forward ready for the tournament.” 

    Latest

    Schulstad Bakery Solutions launches new Danish pastry range

    Lantmännen Unibake’s Schulstad Bakery Solutions brand has launched its...

    Capri-Sun brings free sports sessions to families

    To celebrate 2024’s ‘Summer of Sport’,from May to August...

    General Mills makes additional £50,000 donation to Fareshare

    General Mills has announced an additional £50,000 donation to...

    Amazon union recognition looms as historic vote begins

    Workers at the company’s Coventry fulfilment centre begin ballot...

    Don't miss

    Schulstad Bakery Solutions launches new Danish pastry range

    Lantmännen Unibake’s Schulstad Bakery Solutions brand has launched its...

    Capri-Sun brings free sports sessions to families

    To celebrate 2024’s ‘Summer of Sport’,from May to August...

    General Mills makes additional £50,000 donation to Fareshare

    General Mills has announced an additional £50,000 donation to...

    Amazon union recognition looms as historic vote begins

    Workers at the company’s Coventry fulfilment centre begin ballot...

    Cheerios unveils new campaign offering a trip to Paris Paralympic Games        

    Nestlé Cereals has announced the launch of its new...

    Capri-Sun brings free sports sessions to families

    To celebrate 2024’s ‘Summer of Sport’,from May to August 2024, shoppers purchasing selected packs of Capri-Sun will be able to claim a free sports session in...

    General Mills makes additional £50,000 donation to Fareshare

    General Mills has announced an additional £50,000 donation to FareShare to further support food security across the East of England and employability training initiatives...

    Amazon union recognition looms as historic vote begins

    Workers at the company’s Coventry fulfilment centre begin ballot process for legally binding union rights vote The GMB union announced today that the ballot period...