The UK retail and hospitality sector are predicted to receive a £1.2bn boost during the Women’s UEFA 2022 European Championships (EURO 2022), according to new spending data by Voucher Codes.
The competition is expected to bring 9.4m shoppers to retail stores across the whole competition, with a £898.2m predicted total retail spend.
Food and drink purchases are expected to account for most of the retail spend (£761.2m), as the impact of the cost-of-living crisis will mean many fans choose to watch from home in order to save money.
Sportswear retailers are also expected to see considerable cash boosts as Brits spend an estimated £70.3m in preparation for the big games. The data also shows consumers will spend an additional £32.1m on souvenirs and £34.6m on TV electrical goods.
The tournament is also expected to bring 7.3m consumers to their locals, while £259.8m is forecast to be pumped into hotels, restaurants, and bars. Hospitality venues are set to make £198.7m on drink sales alone.
Maureen McDonagh, managing director at VoucherCodes.co.uk, said: “Major sporting events are always a much-needed boost for retailers and hospitality venues as fans flock to restaurants and pubs to cheer on their teams. Women’s football continues to gain momentum in the UK and that’s reflected in the figures in our report.
“The Women’s Euros tournament is now an important occasion in our calendars, meaning retailers, bars and pubs who embrace the event will all have the chance to make the most of this momentum.”
She added: “It’s clear from our report that food and drink retailers will benefit the most during the tournament as, thanks to the games being shown on the BBC, many will be able to watch easily from home.
“However, it’s encouraging for hospitality venues that, despite the cost-of-living crisis, many people will still be looking forward to cheering the Lionesses on from their local pub or bar.”