Skip to content
Search
AI Powered
Latest Stories

Euro 2024 to deliver multi-million pound striker for indie retailers

Euro 2024 to deliver multi-million pound striker for indie retailers
iStock image
Getty Images

Independent retailers across the UK are gearing up for a potentially record-breaking summer transfer window, as the Euro 2024 tournament kicks off a retail bonanza worth an estimated £2.75 billion.

The British Independent Retailers Association (Bira), which represents over 6,000 independent businesses nationwide, believes the men's football championships could prove to be the biggest signing of the season for pubs, hospitality venues, convenience stores and electrical retailers.


With the men's Euros kicking off on Friday, UK consumers are expected to splurge on items like beer, pizzas, new TVs, and garden furniture. Research from the British Retail Consortium (BRC) suggests 6% of shoppers will buy a new TV or electronic device, 4 per cent will purchase official merchandise, and nearly 10% will host gatherings.

Jeff Moody, Commercial Director of Bira Group, said, "The Euros arriving in the summer months is fantastic timing for independent retailers after a challenging period. With favourable kick-off times aligning with the sunshine, we're expecting pubs, hospitality businesses, convenience stores and electrical retailers in particular to cash in as fans flock to watch the matches."

Hospitality venues alone could see over £600 million in sales from thirsty football fans. The British Beer & Pub Association estimates pubs will pour an extra 20 million pints worth £94 million during the tournament. Three-quarters of consumers say they expect to visit pubs and bars more frequently over the four-week period.

The £2.75 billion spending prediction surpasses the £2 billion boost from the 2022 World Cup. With Euro 2024 held in summer at favourable kick-off times, millions are expected to enjoy drinks in pub gardens and outdoor venues.

Outside of food and drink sales, a £288.6 million surge in new TV purchases, £238.1 million in sportswear, and £96.2 million in merchandise are anticipated. Fans are predicted to spend £37.7 million on decorations and £34.3 million on garden furniture to enhance their viewing experiences.

According to the BRC survey, 13 per cent of people plan to spend more on groceries, beer, wine, spirits, and takeaways for the Euros. Younger generations, particularly 18 to 24-year-olds, are the most likely spending drivers, with 24 per cent planning increased grocery spending compared to just 4 per cent of over-55s.

Separate Adobe data shows a 14.4% spike in TV spending and a 115% jump in online England merchandise sales in May as excitement builds for the tournament.

Moody added, "An England or Scotland run to the latter stages would provide an even bigger boost. It's crucial this feel-good factor translates into more sales for all types of independent retailers as consumer confidence returns.

"We're calling on whichever party forms the new government to support measures to revitalise our high streets and invest in the independent retail community."

More for you

Volumatic welcomes new FCA rules safeguarding access to cash

Volumatic welcomes new FCA rules safeguarding access to cash

As industry leaders is cash handling, Volumatic has long supported the use of cash and the importance of maintaining access to cash for both consumers and businesses. The company recognises the importance of the new set of rules created by the Financial Conduct Authority (FCA) two months ago, to safeguard access to cash for businesses and consumers across the UK.

Since introduction, the new rules are intended to ensure that individuals and businesses who rely on cash can continue to access it and the outcome has already sparked the creation of 15 new banking hubs across the UK, including one in Scotland, with many more to follow.

Keep ReadingShow less
Jisp unveils new NPD service

Jisp unveils new NPD service

Retail technology company Jisp has launched an NPD service as part of its new Direct to Retailer business unit.

The new NPD service will allow brands to launch or trial new products in a guaranteed number of convenience store locations, with on the ground review of execution by Jisp’s retail growth manager team, and performance data and insights deliverable through its scanning technology and back-office systems.

Keep ReadingShow less
Tesco launches price cuts in Express convenience stores
File image of Tesco Express

Tesco launches price cuts in Express convenience stores

Tesco is slashing the price of more than 222 own-brand and branded products in its Express convenience stores.

Essentials including milk, bread, pasta and coffee are included in the lines which have been reduced in price by an average of more than 10 per cent at Tesco Express stores. The retail giant has made more than 2,800 price cuts across stores in recent months. With 2,048 of convenience stores at the end of the 2023-24 financial year, Tesco aims to benefit hundreds of thousands of customers from the cheaper deals.

Keep ReadingShow less
vape and cigarette
Photo: iStock

One in five ex-smokers in England now vape, study finds


Summary
1. One in five people who have successfully quit smoking in England currently vape, with an estimated 2.2 million individuals using e-cigarettes as a smoking cessation tool.
2. The increase in vaping among ex-smokers is largely driven by the use of e-cigarettes in quit attempts, with a rise in vaping uptake among people who had previously quit smoking for many years before taking up vaping.
3. While vaping may be a less harmful option compared to smoking, there are concerns about the potential long-term implications of vaping on relapse risk and nicotine addiction. Further research is needed to assess the impact of vaping on smoking cessation outcomes.


Keep ReadingShow less
Bira engages with Treasury on Budget fallout, business rate reform
(Photo by Christopher Furlong/Getty Images)
Getty Images

Bira engages with Treasury on Budget fallout, business rate reform

Independent retailers association Bira has held a meeting with members of the Treasury team to discuss concerns following its robust response to the Government’s recent Budget announcement.

The Budget, labelled by Bira as "devastating" for independent retailers, was met with widespread indignation from Bira members.

Keep ReadingShow less