Argentina scoring a world cup victory over France, in one of the most entertaining finals in world cup history, the UK’s retail and hospitality sectors lost out on an estimated £164 million following England’s exit, according to a new report.
The World Cup 2022 Spending Report1 by VoucherCodes.co.uk estimated that 37.6 million consumers would watched the final of the tournament at home and in pubs, bars, and restaurants, should England have been playing.
But, as the Three Lions lost out to the French, the report expected just 16.4 million Brits to tune in to see Argentina and France battle itout – 56% fewer viewers than if England had made it through.
Retailers missed out on £50 million in sales due to England’s early exit. Despite no participation from Gareth Southgate’s men, the report expects shoppers will still spend £48 million in stores. However, if England had made it all the way, £98 million was predicted in retail sales.
Hospitality venues suffered a significant loss of £114 million as a result of England failing to reach the final hurdle.
Estimated sales were £15.9 million yesterday, as 2.3 million football fans braved the cold and headed to their local hospitality venue.
Contrastingly, if England had reached the final, hospitality spend was predicted to hit £129.8 million, with 7.1 million viewers.
Pubs, bars, and restaurants sold an estimated 6 million pints, down from an estimated 21.4 million pints predicted to have been poured if England had made it all the way.
Maureen McDonagh, SVP International and Managing Director at VoucherCodes.co.uk, commented: “2022 has been a hard-hitting year for the hospitality sector, with the cost-of-living crisis looming large over consumers and venues alike and unfortunately England’s premature departure from the tournament will be another hit. However, pubs, bars, and restaurants will be relieved that some fans are still continuing to watch the final of the World Cup at their local venues, despite the Three Lions’ exit.”