New insights from leading e-commerce provider Visualsoft show how Euro 2024 and football fever have had a major influence on the country’s spending.
If we look at year-over-year sales in the sports and recreation sector, the average profit consistent with domain creation increased by as much as 35%, driven by a 40% increase in orders from one year to the next. The average order price (AOV) grew at a slower pace of 5% in June, before falling to -10% in July (resulting in an average drop of -3. 5%), suggesting that consumers were spending more, shopping more frequently, and attracting stores. Shop consistently with DEE, consistent with discounts.
In the first part of July, once the elimination rounds began, stores saw a 49% increase in average sales through 2023 and a 63% increase in average orders.
The data shows that on the day England won the quarter-finals (July 6), venues generated the maximum profit, with average profit tripling year-on-year (194%). Then came the day after England won their first match (June 16), up 107%, and the day England won the round of 16 (up 97%).
On June 17, the day after the first win, and July 8, the day before the semi-finals, venues saw a significant increase in average order price (AoV), with a year-on-year increase of 58%. On July 6, the day of the quarterfinal victory, it recorded the highest number of orders, up 137% from the same period in 2023, helping to boost overall profits. Outside of those peak days, stores have managed to sell a higher volume of smaller parts for their profit levels.
England’s matches have also had a significant effect on the conversion of sports, outdoor and recreational businesses. The day England won the quarter-finals shows the greatest effect on conversion. Going from a typical 1. 5% to 5%, demonstrating the effect of sporting events on consumer spending.
At the beginning of the eurozone, mobile spending remained relatively intact. However, as the tournament progressed in July, mobile spending increased markedly from 47% in 2023 to 55% in 2024, suggesting that other people have become more vulnerable to impulse purchases. This most likely looks like sponsorship advertising, people not being able to show more as the tournament progresses, or Eurocentric social media campaigns to promote products.
Antony Hoyland, VP of Business Development at Visualsoft, says: “Sports stores have noticed a huge expansion in sales thanks to the euro – despite the end result – with more orders than we would see in a ‘slow year’. Looking ahead to the Paris Olympics and the sporting summer continues, we expect to see interest continue, although not on the same scale. Retailers are looking to take advantage of this backlog of orders and target consumers with loyalty marketing, personalized newsletters, and targeted discounts to stay. let them come back.