The Women’s World Cup 2023 is set to significantly influence UK retail sales.
- Forecasts suggest retailers will net £463 million from the World Cup period.
- Approximately 7.1 million Brits plan to watch the matches, stimulating economic activity.
- Retail sales are expected to surpass those of hospitality venues by a substantial margin.
- Family-oriented consumer offers are seen as a key strategy for retailers.
Retailers in the UK are gearing up for a considerable financial uplift, projected at £463 million, as the nation turns its attention to the Women’s World Cup in 2023. According to a spending report by VoucherCodes, around 7.1 million Brits are expected to watch the matches, offering a robust opportunity for retail engagement.
The time zone differences and early match timings mean that about 4.9 million people are predicted to watch at least one of the matches in public settings like pubs, bars, or restaurants. This number could potentially increase should England advance to the finals, underlining the dynamic interaction between sports events and consumer behaviour.
It is anticipated that the tournament will inject an estimated £578.9 million into the broader economy. This includes sales from food and drink, sportswear, and assorted souvenirs. Notably, retail sales are expected to derive greater benefits compared to hospitality venues, which forecast approximately £32 million in spend. Such projections highlight the substantial consumer preference for home-based viewing experiences, likely intensified by cost considerations.
The report further indicates that supermarkets and convenience stores may experience a significant boost during the quarter-final stage, with an anticipated £116.3 million spend, predominantly on food and drink. This analysis sheds light on the pivotal role of retail outlets in catering to World Cup-related consumer demands.
Maureen McDonagh, SVP International and Managing Director at VoucherCodes, advised that retailers focus on family-friendly offers to capture the interests of consumers, particularly given the sizeable family audience of the women’s game. Such offers could enhance customer attraction and retention, especially over weekends when match schedules are dense.
The Women’s World Cup presents a lucrative period for UK retailers, underscoring the economic influence of globally celebrated sporting events.
