With England crashing out of the 2022 World Cup against France at the quarter-final stage, the UK’s retail and hospitality sectors are set to lose out on £267 million, according to a new report.
The World Cup 2022 Spending Report1 by VoucherCodes.co.uk estimates that 70.9 million consumers were set to watch the rest of the tournament at home and in pubs, bars, and restaurants, should England have made it to the final.
But, as the Three Lions lost out to the French, the report expects just 27.4 million Brits to tune in to the rest of the tournament – almost two-fifths (39%) fewer viewers than if England had made it through.
Retailers are set to miss out on £68.3 million in sales due to England’s early exit. Despite no participation from Gareth Southgate’s men, the report expects shoppers will still spend £133.3 million in stores. However, if England had made it all the way, £201.6 million was predicted in retail sales
Hospitality venues will also suffer a significant loss of £199 million as a result of England failing to reach the final hurdle. Sales are forecast to hit £43.6 million throughout the remainder of the tournament as 4.9 million football fans prepare to brave the cold and head out to watch the rest of the World Cup tournament from their local hospitality venue. Contrastingly, if England had reached the final, hospitality spend was predicted to hit £243.3 million, with 13.7 million viewers.
With the remaining teams fighting for the World Cup trophy, pubs, bars, and restaurants are predicted to sell 12.1 million pints, down from an estimated 39.9 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 remainder of the World Cup at their local venues, despite the Three Lions’ exit.
“These venues can generate business in a variety of ways throughout the latter stages of the tournament by appealing to football fans and those out to celebrate the festive season with discounts on food, drinks packages and more. It’s important that hospitality venues provide good value for money to encourage the predicted 4.9 million customers to watch the remaining matches outside of their homes.”