World Cup retail revenue expected to drop 19%

Retail revenue during the 2022 FIFA World Cup is expected to drop by £370 million compared to the 2018 competition, a new report reveals. The 2022 World Cup Spending Report by expects retailers to make £1.6 billion in sales throughout the tournament. 

With the competition being held during winter for the first time ever, data shows the colder weather combined with the current cost-of-living crisis will negatively impact retail sales, which are set to be down 19 per cent compared to the last World Cup (£1.9 billion). This is despite more consumers than ever (26.5 million) predicted to watch from home, friends’ houses, and even offices rather than heading to hospitality venues. 

Food and drink are expected to account for £1 billion of total retail sales, however, despite the tournament’s overlap with the Black Friday Period, all retail categories will see a decline in spending compared to the 2018 World Cup. 

Thanks to rising inflation and record-high cost of living, consumers are minimising spending where they can, and souvenirs and sportswear are expected to be hit the hardest. Retail sales for souvenirs are forecast to be down 49 per cent in 2018 at £61.3 million, while sportswear (£197.1 million) and TV electrical goods (£318.8 million) are expected to drop 48 per cent and 16 per cent respectively. 

Retail sales are expected to peak during the group stage (20th November - 2nd December) at £1.01 billion. Smaller sums are forecast during the round of 16 (£273.3 million), quarter-finals (£182.5 million), semi-finals (£85.3 million), and the final match (£48 million). This is due to the expectation that England will only make it to the quarterfinals before being ousted from the competition. 

Maureen McDonagh, Managing Director at said, “it’s clear that the ongoing cost-of-living crisis is going to negatively impact retailer profits during the 2022 World Cup, especially when comparing our forecasts to the impressive sales driven as a result of the last World Cup in 2018. 

“However, despite a more muted sales performance anticipated, retailers can still expect a busy period during the World Cup, particularly as more consumers than ever are planning to tune in to the games from home to save money.

“With huge numbers of fans set to host friends and family to make an event of the games, there are plenty of opportunities for retailers to take advantage of this greatly anticipated tournament. With saving money front of mind for many consumers, offering competitive discounts and special offers that provide real value to customers has never been more important. Aside from deals, you can also ensure you have incentives such as rewards or loyalty points running throughout the tournament to encourage customers to return and shop with you ahead of future games.”

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