Euro 2024 is set to kick off a summer spending spree as consumers replace televisions and stock up on groceries to watch the tournament.
As England and Scotland prepare for their opening matches, 6% of shoppers expect to buy a new TV or electronic device to watch and keep up with their team and 4% plan to buy official merchandise, according to a survey for the British Retail Consortium (BRC).
Almost one in 10 (9%) plans to host or attend gatherings with family and friends to watch matches.
Some 13% of people plan to spend more on groceries, beer, wine and spirits and takeaways to enjoy while watching the Euros.
However younger generations are the most likely to drive up spending, with 24% of 18 to 24-year-olds planning to spend more on groceries, compared with just 4% of those aged 55 and over.
Separate figures from Adobe show a 14.4% increase in spending on TVs compared with normal levels as armchair fans prepare to tune in at home, while online sales of England football shirts and other team merchandise increased by 115% in May compared with normal levels, with spending accelerating towards the end of the month.
Scotland take on Germany this Friday, followed by England playing Serbia on Sunday.
BRC director of insight Kris Hamer said: “British retailers could score a hat-trick, with boosts to groceries, electronics and official merchandise.
“After sluggish spring sales, shoppers are expected to kick off their summer spending at the Euros. Here’s hoping England and Scotland can make it all the way to the final.”
Vivek Pandya, lead analyst of digital insights at Adobe, said: “One particular bright spot in May’s data came as football fans ready themselves for a summer of sport, driving a significant uptick in sales of England football merchandise and TVs as they prepare to support the national team in the Uefa European Championships.
“Retailers will be backing the team to go all the way and ride the wave of optimism that has in the past translated into greater consumer confidence and a big boost in spending that would get the sector back alive and kicking.”
The UK’s hospitality sector is also hoping that the tournament will provide them with a much-needed spending boost.
Pubs will be able to extend their opening hours to 1am if England or Scotland make it to the semi-finals of Euro 2024, the Government has said.
Venues will be allowed to stay open for an extra two hours on match days if either or both teams reach the last four – or the final – to give fans a chance to celebrate or commiserate.
The move, which covers venues in England and Wales, comes after a consultation at the end of last year and is hoped to provide a boost to the hospitality industry.
Kate Nicholls, chief executive of UKHospitality, said: “The Euros will be a huge event for pubs and hospitality venues across the country.
“Enormous numbers of people will be flocking to watch the home nations at the pub – the perfect place to watch live sport, outside of the stadium itself.
“We know hospitality venues are excited to put on a memorable experience for fans and everything is crossed that the two home nations competing can go far in the tournament, delivering both a welcome boost to pubs and a summer feel-good factor to the nation.”
Emma McClarkin, chief executive of the British Beer and Pub Association, whose members own more than 20,000 pubs and brew 90% of Britain’s beer, said: “We expect nearly 300 million pints to be sold during the four weeks of the tournament, both alcoholic and non-alcoholic, with a total value of around £1.4 billion.
“The Euros is a busy time for pubs, as fans choose to watch games together in their local pub or bar, while enjoying a drink or two.”
Opinium surveyed 2,000 UK adults in May.
