Fans are expected to spend as much as £1.3bn on food, drink and memorabilia if England make it through to the second round and a staggering £2.58bn at shops, pubs and restaurants should the Three Lions make it all the way to the final, according to research from VoucherCodes.co.uk.

The study suggests that every goal scored by the England team will trigger a £198.5m spending frenzy.

The biggest spend will be on food and drink with £508m expected to be spent if England emerges from the group stage. This figure will rise to over £1bn should England make it to the final.

Die-hard fans are set to spend £255m on TVs and electricals to watch the games if England get past the group stage and £475m if England make the final.

Pubs, clubs and cafes will also do well with spending anticipated to reach £175m if England play through the group stage, increasing to £431m if they make the final.

Internet and mobile retailers are also expected to do well during the World Cup.

Claire Davenport, managing director of VoucherCodes.co.uk, said: “As excitement for the 2014 FIFA World Cup reaches fever pitch, UK retailers can expect to see a huge boost to sales. More than 23 million fans will celebrate England’s successes by heading to the pub, upgrading to the latest TV, or buying England memorabilia. Pubs, clubs and shops are putting some great offers on for footie fans to take advantage of.”