Retailers and hospitality venues are set to make £579m during the 2023 FIFA Women’s World Cup kicking off on Thursday 20th July, a new report reveals.
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 from the comfort of their own homes. As the tournament is being held in Australia and New Zealand, fans are presented with plenty of early starts resulting in only 4.9m (22%) people predicted to watch the competition from their local pub, bar or restaurant.
As a result, retail spend is set to far 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 from the comfort of their own 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.
Total 2023 FIFA Women’s World Cup predicted retail spend by tournament stage
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, UK 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.
Total predicted hospitality spend for the 2023 FIFA Women’s World Cup
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 ongoing cost-of-living crisis on UK consumer’s disposable income.
Maureen McDonagh, SVP International & Managing Director at VoucherCodes.co.uk commented: “With the FIFA Women’s World Cup being held in Australia and New Zealand, the early kick-off times will naturally contribute to a decline in hospitality expenditure compared to previous international tournaments. However, with almost 4.9m fans flocking to their local pub, bar, restaurant, or club, it will still be an exciting period for businesses, and owners should think outside the box on how to take advantage.”