Posted on April - 23 - 2010
World Cup win ‘would trigger £500m spending spree’
British businesses stand to gain an extra £500m in revenue this summer if England win the World Cup, experts are claiming – with retailers and broadcasters particularly likely to do well.
Bookies are currently placing England as third favourites behind Brazil and Spain.
Analysts claim an England win would give a welcome boost to an economy that by then will still be stuttering under the uncertainty of a new government or even a hung parliament.
A recent survey by PricewaterhouseCoopers showed that nearly 15 per cent of consumers intend to buy more if England win in South Africa, both because of the celebrations that could follow and through feel-good purchases.
Greg Hodge, research director at Planet Retail, said he reckoned the difference between England getting to the final and making a more familiar quarter-final penalty shoot-out exit could be worth around £500m to the economy as a whole.
Hodge said retailers such as JJB Sports stood to gain much, while official sponsor Tesco was hanging a lot on the outcome of the tournament.
“If Tesco are planning a large promotion for the quarter-final stage and England go out,” he said, “and then it pours down for a whole week, then the chances are their meat promotions aren’t going to go very well and they will be forced to discount.”
The British Retail Consortium estimates that the last World Cup generated £1.25bn in retail sales.
It is suggesting a similar figure this time – more if England get further.
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