German retailers expect only modest boost from World Cup
Managing Director of the Handelsverband Deutschland Stefan Genth attends a news conference in Berlin, Germany, March 17, 2020. REUTERS/Annegret Hilse/Pool
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BERLIN, June 10 : German retailers expect the soccer World Cup starting on June 11 to provide a modest boost to sales, though the impact will likely be limited to specific sectors because the tournament is being held outside Germany, retail association HDE said on Wednesday.
A survey of around 400 companies by HDE found that about a quarter of retailers are stocking promotional goods or products linked to the World Cup, with food retailers, clothing and footwear stores, sports shops, DIY stores, electronics retailers and toy sellers among the most active.
“Major sporting events can have a positive effect on consumer sentiment and generate sales momentum,” HDE head Stefan Genth said.
But he said that for events not held in Germany, sales effects were largely confined to individual sectors and product categories, meaning the World Cup in the United States, Canada and Mexico was not expected to generate a significant uplift in retail consumption across all sectors.
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Companies selling soccer-related products expect positive effects, but generally only on a small scale, HDE said.
“The further the German national soccer team progresses in the tournament, the better it will be for the mood in the country,” Genth said. “Consumption is to a large extent psychology.”
Source: Reuters
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