World Cup 'to prompt spending frenzy' by football fans
- 12 May 2010
- From the section Business
Football fans are set to increase spending on food, drink, newspapers and betting during the World Cup, a survey has suggested.
Some 63% of those asked by Mintel said they expected to increase their leisure spending during the month-long tournament.
People in the north-west of England are showing the greatest interest in the event, the poll of 2,000 people found.
Some stores are already cutting prices of TVs to encourage fans to spend.
The research found that 23% of fans will place a bet on the games and 31% will be buying alcohol.
Supermarkets are expected to conduct a price war over items such as drinks and barbecue items. During the recent Bank Holiday, multi-pack deals pushed down the price of beer to as little as the equivalent of 48p a pint.
Interest in the tournament in England is not dependent on the success of the England team, the survey found, with one in 10 expected to buy a shirt or flag of the team they support.
"Despite edging back into growth at the end of 2009, the UK economy remains in need of the boost to spending that can be delivered by the World Cup, ideally underpinned by a successful tournament for the England team," said Richard Cope of Mintel.
"Sport can be a significant driver of the feel good factor that encourages happy consumers to spend - and the opportunity of the World Cup this summer could prove just the ticket for both retailers and the wider economy."
An online security company has suggested that 8,000 tickets for World Cup matches are currently being traded online, for prices of thousands of pounds.
However, MarkMonitor is warning that some buyers may still be unaware that their ticket could be illegitimate.World Cup 'set to boost spending'
Rules, from football's governing body Fifa, state that tickets cannot be sold, re-sold, donated or transferred in any other way without its prior written permission - although how this will work in practice remains unclear.
The tournament, in South Africa, features 32 teams. It starts on 11 June, with the final match played on 11 July.