UK consumers set to provide world cup boost to economy
As June approaches and the nation anticipates a summer of football frenzy, new research from Mintel reveals it is not only the fans who are anticipating cheering a good result.
Mintel’s research reveals that nearly two thirds (63%) of Brits can be expected to increase their leisure spending as a consequence of the 2010 FIFA World Cup - rising to almost four in five hardcore football fans. In addition, nearly three quarters (71%) of UK adult population are planning to watch the world cup at some level and just 28% Brits claim to have no interest in the tournament.
Over one in five (23%) consumers say they will probably place one or more bets on the World Cup – rising to 37% of those who watch a lot of football. Amongst fans who will be going to pubs to watch games, four fifths (81%) predict an impact on spending, suggesting that they will go out and spend money over and above their usual social activities. Meanwhile, 31% say they will be buying alcohol as a result of the world cup, 29% food and snacks and 13% say they will buy a newspaper more often.
Richard Cope, Principal Trends analyst at Mintel, said: “Despite edging back into growth at the end of 2009, the UK economy remains in need of the boost to spending that can be delivered by the World Cup, ideally underpinned by a successful tournament for the England team. Sport can be a significant driver of the ‘feel good factor’ that encourages happy consumers to spend – and the opportunity of the World Cup this summer could prove just the ticket for both retailers and the wider economy.”
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