Retailers are set for a significant economic boost during the 2023 FIFA Women’s World Cup.
- Forecasts suggest £463m in retail sales as fans prepare for the event.
- 7.1 million Britons are expected to watch the games nationally.
- Only 4.9 million viewers may visit pubs or bars due to early game times.
- Retail spending is predicted to surpass hospitality venues, with £92.9m on food and drinks.
Retailers across the nation are poised to experience a substantial financial windfall as the 2023 FIFA Women’s World Cup approaches. Projected sales from this event are anticipated to reach £463 million, according to the Women’s World Cup 2023 Spending Report by VoucherCodes. This influx of consumer spending highlights the event’s popularity and potential to stimulate the economy significantly.
Approximately 7.1 million Britons are expected to tune in to the matches, illustrating the widespread appeal of the tournament. However, due to time zone differences resulting in early broadcast schedules, only an estimated 4.9 million people are predicted to watch the games at pubs, bars, or restaurants. This number could see an increase should England progress to the final.
The report further suggests that the economic boost from the tournament is projected to be £578.9 million in total. This includes sales not only from food and drinks but also from souvenirs, sportswear, and other merchandise. Consequently, retail sector revenues are predicted to far outstrip those of hospitality venues, which are expected to generate around £32 million.
During the quarter-final stage, retail sales at supermarkets and convenience stores are estimated to reach £116.3 million, with food and drink expenditure alone accounting for £92.9 million. This highlights the core role of grocery items in consumer spending patterns related to the event.
With early kick-off times and cost-of-living considerations, many fans are likely to watch the tournament from home. Maureen McDonagh, SVP International and Managing Director at VoucherCodes, stated that retailers should focus on family-friendly offers to attract consumers. “Family friendly offers should be a key focus area for retailers looking to attract new customers during this period,” she explained.
The Women’s World Cup presents a lucrative opportunity for retailers to boost sales significantly in 2023.
