A new report suggests that retailers and hospitality venues are set to make £579m during the 2023 FIFA Women’s World Cup that kicks off on 20 July.
The Women’s World Cup 2023 Spending Report by VoucherCodes.co.uk reveals that, despite the early kick-off times of the games, 21.9m supporters are expected to tune into the competition.
Of the total viewers, 19.1m (87%) are set to watch the games at home. As the tournament is being held in Australia and New Zealand, fans are facing early starts with only 4.9m (22%) people predicted to watch the competition from their local pub.
As a result, retail spend is set to outweigh spending in hospitality venues. Throughout the tournament, retailers can expect to welcome 15.1m shoppers through their doors, resulting in a total spend of £464m. Spending on food and drink for the celebrations are expected to make up £333m of total sales, with every viewer watching at least one game at home.
Retailers are also set to make £57.6m on sportswear, £32.6m on TV electrical goods, and £21.7m on souvenirs as consumers prepare to watch the games.
Retail spend is set to peak during the group stage of the tournament (20th July – 3rd August), with consumers expected to spend £133.7m.
Despite the early kick-off times, the hospitality sector is still set to see sales of £115m from 4.9m guests across the whole competition. Breaking this down further, hospitality venues are predicted to make £44.9m from food sales and £70.1m from drinks sales, equating to the sale of 10.9m pints of beer & cider, and 66.7m cups of tea and coffee.
Compared to last year’s hospitality spending figures at the 2022 Women’s Euros, projections show that hospitality venues should prepare for an estimated downfall of 56% in sales. This decline is likely due to both the early kick-off times and the negative impact of the cost-of-living crisis.
Maureen McDonagh, SVP International & Managing Director at VoucherCodes.co.uk commented: “The ongoing cost-of-living crisis, paired with the early kick-off times means that many consumers are likely to choose to watch this year’s FIFA Women’s World Cup from home in a bid to save money. As a result, retailers can expect a busy period in the run-up and during the tournament as fans stock up their fridges and cupboards with match day essentials.
“Women’s football has also gained a family following so marketing World Cup offers to families is key to driving sales and keeping these customers coming back to your brand, even after the tournament has ended.”
NAM Implications:
- Given the early hours starts and the inflexibility of licencing hours, this has to be a win for retail…
- …at the expense of pub hospitality.
- Unless pubs and restaurants innovate via post-match celebrations…
- A pity…
