Wednesday, May 23 10:20:43
Irish retailers are predicting that Ireland's participation in Euro 2012 will boost retail sales this June by an extra E250m, according to new figures from industry group Retail Excellence Ireland.
That estimated could rise by a further E18 million lift should Ireland reach the final match of the tournament.
Taking in the views of all of the country's retail sectors, the survey finds that 55pc of retailers expect their sales to increase as a result of Ireland's participation in the European Soccer Championships in Poland in June 2012. Of these retailers, 52pc expect their sales to increase by 1-4pc. 12pc expect their sales to increase by 4-6pc and 6pc expect a boost of 6-9pc. A further 30pc of those expecting an increase in their sales expect the level of increase to be above 30pc.
Consumer products that are expected to benefit the most from the country's first participation in the Euros in 25 years include televisions, sportswear, football cards and collectables, men's casual wear, betting activity, children's football boots and accessories and takeout food. Retail categories that are expected to benefit from a lift in demand, albeit less pronounced, are sporting equipment, barbeque meats and salads (weather dependant), sports watches, alcohol, prepay phones and mobile phone texts and call activity. Interestingly many retailers expect a significant lift in women's shopping activity due to boredom with the extensive football coverage on television.
Asked if Ireland were to make it all the way to the final what level of sales increase they would expect, 46pc said between 1-4pc and 10pc said between 4-6pc. Another 10pc said they'd expect an increase in sales of 6-9pc and 35pc said they'd expect sales to increase by over 9pc.
Retailers responding to the survey also rated the UEFA Euro Championships, the Heineken European Rugby Cup, the World Cup and the Rugby World Cup as the most significant sporting events for increasing retail sales activity. The next most important sporting events for lifting Irish retail sales are the Punchestown and Cheltenham Races and the Ryder Cup. While the Olympics are viewed as a positive for retailers, it is seen as the least likely to bring with it a retail dividend.
David Fitzsimons, Chief Executive, Retail Excellence Ireland said: "The sense of anticipation around the country is really starting to build as we count down the days to Ireland's first match in Euro 2012 in Poznan. The majority of retailers are picking up on this positive sentiment and are telling us that they expect to see an uplift in their sales during June."
"Predictably, television sets, sportswear, men's casual wear and sporting equipment are all expected to sell in significantly greater volumes over the coming weeks. Retailers are also telling us that they expect to see an increase in sales of takeout food, alcohol and prepay phones. Depending on the weather, our members are also preparing for increased sales volumes for barbeque meats and salads."