The men’s Euro 2020 football tournament is expected to generate £2,75bn in sales, including pizzas, beer and new televisions. This will provide a boost to pubs, bars and retailers.
The British Beer & Pubs Association expects an additional 20 million pints of beer to be sold in the pubs alone over the four-week period following the first major men’s summer tournament without social distance restrictions. Publicans will earn an additional £94m from the estimated 300m pints.
According to research conducted by GlobalData Retail, an industry analyst, for the website Vouchercodes.com, the hospitality sector as a whole could see a £613.7m increase, whereas retailers can expect a £2.1bn boost from sales such as TVs and sportswear.
The tournament being held in Germany means that the kick-off time is favourable, which will help to attract an estimated 35,4 million fans who are likely tune in to cheer or jeer at the Three Lions.
Nearly half of men are expected to go to their local bar, restaurant or pub to watch at the very least one match. This is a 115% rise from the last major event for men, the World Cup 2022, which was held in Qatar over the winter months. Fans are expecting to spend £172m more on hospitality than they did in 2022.
Dartford Sports Bar, in Kent opened by Chris Michaelas with his partner April the day Boris Johnson announced that the Covid-19 pandemic would be under lockdown for the first time in March 2020.
Michaelas said, “We were loading refrigerators while the DJ set up and Boris announced on TV in the afternoon that all pubs had to close tonight.”
He said that the Euro 2024 event would be the first time they have seen the kind of boost in revenues typical for summer sporting events.
“For the Euros 2021, there were instructions on where to sit as well as the ‘rule six’ and a one-metre space. The one-off winter World Cup coincided with our peak Christmas bookings last year, which was unfortunate.
This is our first summer tournament as an organization. “Our turnover will double, that’s a simple way to put it.”
The venue has doubled its staff for the first England game of the tournament. It also sold 1,000 tickets to the games that will be broadcast on 24 screens at the bar. Sound will be piped in the garden, and even into the toilets.
Michaelas added that the multi-cultural nature of the region had also given the area a boost. Groups of people had made reservations to watch matches between Poland, Ukraine Hungary, Turkey Slovakia and Scotland. “We are just praying for good conditions.”
Retailers hope that the sunshine will fuel a £2.1bn spree for food, drinks, equipment to make pizzas alfresco and barbecues as well as electronic goods such as TVs, sporting apparel, and merchandise.
The 2024 competition may change the fortunes of sports brands, retailers, and TV companies. Consumers are also cutting back on their spending due to the rising cost of living.
If either of the two home nations qualifies for the final, it will boost spending and create a positive feeling that may lead to better sales for those who do not sell products directly related to the tournament.
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