“Summer 2016 is set to be filled with heaps of high profile sporting action with UEFA Euro 2016, and the Rio Olympics and Paralympics on top of annual favourites such as Royal Ascot and Wimbledon,” highlighted David McCorquodale, UK head of retail at KPMG. “While these types of events don’t necessarily drive a significant uplift on the high-street, food and drink sales certainly benefit from the surge in patriotic spirit as consumers gather together to support and celebrate the sporting achievements.”
McCorquodale added: “It all really kicks off this week with the start of UEFA Euro 2016 - the 15th edition of the quadrennial international men's football championship this year hosted in France. For 2016 an expanded 24 team format, coupled with England, Wales and Northern Ireland successfully qualifying, means more matches to watch, more teams to get behind and more opportunities for British retailers to help consumers celebrate the action.”
“Later in the summer, the 2016 Olympics get underway and, with such a strong showing from the UK athletes in 2012, there’s no doubt that Great Britain will have high hopes for this year’s competition. However, with events hosted in Rio this time around, the impact on UK sales is likely to be far smaller, particularly in terms of boosting the consumer feel good factor.
“This means that even with a bigger and better Euro 2016 competition, deepening discounts across the retail sector will mean that the 2016 summer of sport ultimately falls short for retailers compared to 2012.”
For further information please contact:
Jess Liebmann, KPMG Corporate Communications
T: 0207 311 3245
KPMG Press office
T: +44 (0) 207 694 8773
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.