Euro 2020 fails to trigger surge in spending on pints
Euro 2020 has failed to trigger a burst in spending at pubs and restaurants, reveals new research.
Spending in pubs and restaurants in the first 13 days since Europe’s flagship international football tournament kicked off was eight per cent lower than the 13 days before, according to debit card spending data from Lloyds Bank.
The eagerly awaited England and Scotland tie on Friday 18 June did not prompt a sharp rise in spending on pints, as many expected. Pubs and restaurants received just a three per cent uplift in spending compared to the Friday before.
Punters did spend five per cent more in pubs and restaurants this Tuesday compared to the same day the week before as England beat the Czech Republic 1-0 to top group D.
Demand for match-day essentials has remained subdued, with spending at supermarkets down three per cent over the course of the tournament’s group stages.
Gabby Collins, payments director at Lloyds Bank, says: “The excitement around Euro 2020 has not yet encouraged football fans to spend en-masse at high-street stores, or pack out pubs or restaurants.”
Unsettled weather dampened consumer spending in stores as shoppers kept away from the high street to shelter from the rain.
Clothing spending has slid 12 per cent since the start of the Euros, while department and health and beauty stores dipped six per cent and four per cent respectively over the same period.
“After an initial surge when lockdown measures were eased in May, spending has tempered through June” Collins added.
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