Euro 2024 expected to give retailers a big boost, BRC poll shows

11th Jun 2024 07:24

(Sharecast News) - This summer's EUFA European Championship is expected to give UK retailers a big boost, according to a poll released on Wednesday by the British Retail Consortium.

The survey of 2,000 UK shoppers found that 13% of people are planning to spend more on groceries, alcohol and takeaways while watching England and Scotland in the upcoming football tournament in Germany.

However, there was a large disparity in answers between age groups, with 24% of 18 to 24 year olds expecting to spend more on groceries, compared with just 4% of those 55 and above.

The results, which are part of the BRC's Consumer Sentiment Monitor, supported by Opinium, come ahead of the opening match of Euro 2024 this Friday, which will see Scotland take on Germany. England's first match is on Sunday against Serbia.

The poll found that 9% of people plan to host or attend gatherings with family and friends to watch matches, with 6% of shoppers expecting to buy a new TV or electronic device, while 4% plan to purchase official merchandise.

"British retailers could score a hat-trick, with boosts to groceries, electronics and official merchandise," said Kris Hamer, director of insight at the BRC.

"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."

Data released last week showed that total retail sales across the UK rose by just 0.7% year-on-year in May