England’s Lionesses helped to deliver a boost in retail sales last month, as football fans stocked up on food and drink for World Cup watch parties.
As the women’s team progressed to the final, supermarket tills saw increased spending with food sales jumping 8.2% in the three months to 26 August, according to the BRC.
For the final match alone, retailers were expected to earn around £463m in sales.
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Across August, total UK retail sales rose 4.1%, according to the British Retail Consortium (BRC).
IGD CEO Sarah Bradbury said:”Despite the disappointing summer weather, August saw food and drink sales recovering some momentum that was lost in July. The progress of the Lionesses in the World Cup brought cheer to consumers and an excuse for get-togethers around game times.
“However, inflation remains the dominant driver of headline growth in the sector and, although lower now than the peaks seen a few months ago, it remains high by historical standards.”
BRC chief executive Helen Dickinson said that as price rises come down, retail sales growth may fall in the coming months, even if volume growth does not.
“Furthermore, high interest rates and high winter energy bills will put pressure on many households to spend cautiously. Retailers are combatting this through a clear focus on great value for consumers, expanding budget ranges, and finding ways to cut costs where possible,” she added.
