Retail sales enjoy boom during FIFA World Cup, 2010
Retail sales jumped surprisingly higher in May as shoppers splashed out on televisions before the World Cup, official figures showed. Customers put looming tax hikes and downturn gloom to one side to gear up for the football gala as sales volumes bounced 0.6 percent during the month, the Office for National Statistics (ONS) said.
Domestic goods sales were up 1.7 percent in May with electrical retailers reporting strong demand, the ONS added. The numbers come after a trading update from Tesco this week reporting sales of some TV brands almost doubling in the run-up to the contest.
Some retailers have tempted consumers with money-off offers for trading in older sets, offering cash back for each goal scored by England and even refunding the price of new Televisions fully if Fabio Capello’s team lifts the trophy for the first time since 1966.
Sales in May were also helped by a strong increase in food sales, offsetting lower clothes and foot-wear volumes, while the numbers were also flattered by a descending revision to April’s data.
Yearly expansion reached 2.2 percent; the highest rate since last November, although the less volatile quarterly figures showed a more modest 1.7 percent increase over the same period in 2009.
IHS Global, Insight economist Howard Archer said retailers would be hoping for an excellent run from England in the competition to boost up sales further in June, although many clienteles will be eyeing the impact of Chancellor George Osborne’s emergency Budget next week when the World Cup jubilation fades.
He said: “Further out, it is hard to be hopeful about the projection for consumer expenditures.” Shoppers self-confidence has been heading downwards recently, and response is likely to be further pressurized by the grisly details next Tuesday of the financial squeeze that is on the way.”













Now, Netherlands win over Brazil! It is strange! Who will be the champion? What about Germany?
Yes, Netherlands beaten Uruguay and Spain won over Germany. Yes! But who will be the champion? Do you think Spain.
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