Retail counts down to the World Cup
By Shout-Africa – UK retailers are counting on a World Cup frenzy to boost sales after figures published by the British Retail Consortium revealed retail sales values rose a diminutive 0.8% last month. Clothing and footwear have benefited from sunny weather but retail bosses have even higher hopes that a combination of summer and football fever will encourage shoppers to splash their cash.
Verdict Research in its latest forecast says that total retail expenditure will increase by £1.3 billion during the period of the World Cup, June and July 2010, compared with an increase of £1.5 billion during the same period in 2006. Joseph Robinson, Retail Analyst, at Verdict Research told The Retail Bulletin: “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.”
Crushing high street hopes of a World Cup shopping frenzy, he added: “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”.
It is now June and with only two days away from the FIFA World Cup 2010 in South Africa, store bosses should rest their hopes on boosting earnings online as shoppers are likely to be lured to the e-commerce shopping cart during half-time rather than flock to the high street department store.
