Victory for UK retailers as finals week kicks off - K3

Sales are booming for a multitude of retailers after a somewhat surprising summer of both hot weather and success for the England football team! 

In recent months, there have been countless headlines talking about the decline of the UK high street. From restaurant chains like Prezzo to high-street fashion brands like New Look, retailers are turning to routes like company voluntary arrangements and store closures to try and repair finances. But despite what recent reports have said, the last couple of months have given retailers a well-needed uplift in sales.

Cue the World Cup 2018

The most recent report on the health of UK retail found that in June 2018, “total retail sales rose by 2.3% across the UK”. Global-scale events like the Royal Wedding have had a positive impact on what has otherwise been a bleak time for the UK high street.

Following on from the previous month’s successes, June began on good terms with the pairing of glorious sunshine and the impending World Cup set to begin on 14th June.

From beer sales to the growing popularity of waistcoats, here’s a round-up of the impact the World Cup is having and the retailers that are revelling in the glory:

  1. Menswear

    As the official supplier of the England team’s suits, it’s unsurprising that M&S are up are reaping some benefits. According to Drapers, M&S “has reported a 35% increase in sales” on its full range of waistcoats since the competition began. The waistcoat, modelled by Gareth Southgate, has surged in popularity thanks to the unlikely fashion icon.

    Men’s fashion stores from Topman to Moss Bros are enjoying a boost in sales as men of all ages flock to the shops to get their hands on what appears to be the new status symbol of national pride. Check out #WaistcoatWednesday for all the latest waistcoat-related action on this, the ultimate waistcoat Wednesday.

  2. Food and drink

    Now, this one isn’t solely down to the World Cup, but it’s certainly helping matters, particularly in the alcohol sector! As if BBQ season wasn’t enough of a reason to head on down to the supermarket, June decided to also be host to England football’s most successful World Cup performance for nearly 30 years. Cue burgers, beer and TVs…

    After studies found that a whopping 86% of the British public are expected to watch the World Cup from home, and are anticipated to spend £1.2bn on food and bevvies if England make it through to the final. And of course, to watch from home you need to make sure you’ve got yourself a nice wide-screen TV.

    Tesco has seen a rise in sales of BBQ food, beer and wine, and last week announced a prediction that it’d sell “50 million bottles and cans of beer by the end of the week”. And it’s no surprise when you consider the earlier prediction from the BDPA that beer sales alone will bring in a huge £3.6million in tax revenue.

    Supermarket chains Aldi and Lidl have both announced that if (when) England get through to the final, they’ll close their stores at 3pm on Sunday to let employees watch the game. What a fantastic demonstration of camaraderie and employee spirit. Empowering and nurturing your staff has been shown time and time again to improve customer experience – let’s hope more brands follow suit!

World Cup impact Retailers

Feeling the Waistcoat Wednesday passion in our Abingdon office today!

We’d love to see your #WaistcoatWednesday pics and World Cup celebrations so be sure to share them with us on Twitter and Instagram!