World Cup to boost UK retail by £1.3bn 07/06/2010 |
|
| |
| |
The World Cup is expected to give UK retail expenditure a cool windfall of £1.3bn according to analysts Verdict.
The boost, which is only expected to benefit certain retail sub-sectors, will be driven primarily by inflation, especially in food and grocery rather than the World Cup itself.
Retail analyst at Verdict Research, Joseph Robinson, says the fortunes of the England team at the tournament will be a key factor on retails success this summer.
“Any potential fillip that the tournament provides will inevitably be heavily reliant on the successes of the English national team and the ensuing feel good factor that these generate,” he said.
“However, the benefits will be far from blanket. Town centres are set to suffer from declining footfall, with department stores in particular being adversely affected as shoppers stay home for the games, and spend their money elsewhere.’
According to Verdict, an extra £1.1bn is set to be spent on food and groceries during June and July, which is up some 5.2% on last year.
There is also an anticipated growth in the alcohol sector which is set to grow by 7.2% to £164 million.
Clothing and footwear is set to increase by £380 million with Sports Direct and JJB Sports hopeful of announcing profits.
However, other sectors such as DIY, furniture and homeware are unlikely to benefit and expecting losses.
|
| Back |
| |
| |
|
|
 |
Advertisement
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
