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Match of the pay: Football fans to boost economy during Euro 2024

Match of the pay: Football fans to boost economy during Euro 2024
Matt Browning
Written By:
Matt Browning
Posted:
12/06/2024
Updated:
13/06/2024

Shoppers with Euro 2024 fever are set to give the economy a welcome shot in the arm this summer, a study finds.

Ahead of England and Scotland’s attempts to lift the trophy at the men’s football European Championship, fans in the UK are planning to spend more over June and July on new TVs, food, and – of course – beer.

Over an eighth (13%) intend to splash out more on groceries, beer, wine and spirits as well as takeaways to indulge in while watching the match.

Around a tenth (9%) of the 2,000 respondents surveyed by the British Retail Consortium will either host or attend gatherings with friends and family, while 6% expect to splash out on a new TV or electronic device to watch all the action.

Further, 4% of shoppers plan to purchase official merchandise of the tournament, which kicks off on Friday 14 June with tournament host Germany up against Scotland.

Younger football fans are intending to dip into their pockets more during the sporting showpiece, with a quarter of 18-24-year-olds planning on spending more on food and drink.

That dwarfs the intentions of those over 55 years old, where just 4% of that cohort expect to do the same.

Football to rescue floundering footfall?

The rise in spending as fans cheer on the likes of Jude Bellingham and John McGinn (depending on their allegiance) will be a much-needed victory for retailers, as shop footfall floundered by 3.6% over the last year.

Scotland had the biggest dip in the last year, with 5.4% fewer people going out to shops on their high streets, shopping centres and retail parks.

The rainy months of April and May in the UK didn’t help the numbers of those spending in shops, as retail sales slipped by 2.3%. But hope is on the horizon that brighter days await the home nations, both on the pitch and on the high streets.

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.”