British Supermarkets Anticipate Sales Boost Ahead of Euro 2024
Market researcher NIQ has predicted that British supermarkets are poised to experience a surge in sales leading up to the Euro 2024 football championship, set to take place in Germany from mid-June. With both England and Scotland participating in the tournament, an estimated 45% of households are expected to tune in, potentially driving up sales of snacks, drinks, and alcohol.
According to NIQ, the warm weather experienced in May contributed to a 3.3% year-on-year increase in sales for the four-week period ending on May 18th. This growth was primarily attributed to the favorable weather conditions rather than food inflation, which is projected to remain around 3% in the coming months.
“It was the warm weather which helped to move the dial in terms of shopper spending at the UK supermarkets, more so than food inflation,” stated Mike Watkins, NIQ’s UK head of retailer and business insight.
As the excitement builds for the Euro 2024 championship, British supermarkets are gearing up to meet the increased demand for snacks, beverages, and other products as fans prepare to enjoy the football matches from the comfort of their homes. With a significant portion of the population expected to be following the tournament, retailers are optimistic about the potential sales boost in the weeks ahead.
In conclusion, the anticipation surrounding the Euro 2024 football championship presents a lucrative opportunity for British supermarkets to capitalize on increased consumer spending. As households gear up to support their teams during the tournament, retailers are gearing up to meet the demand for a wide range of products, from snacks to beverages, and beyond. With the right strategies in place, supermarkets are well-positioned to maximize their sales and engage with football fans across the country.