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Could the World Cup save the UK retail sector?

As we await the first England game of the South Africa 2010 World Cup it is becoming apparent that the World Cup could actually be an event which rescues some UK retailers. Only this week John Lewis reported a 20% increase in sales due in the main to World Cup fever gripping the UK. Despite comments in the press that sales of flatscreen televisions have been disappointing there would appear to be a last-minute rush from football fans looking to follow their team.

Aside from the fact we have seen a significant increase in retail sales, at least at John Lewis, it is the growing feel-good factor which will also play a major role within the UK economy. Pubs and clubs around the UK will be licking their lips at the thought of crowds flocking to watch the mid afternoon and early evening games and there is likely to be an increase in sales at supermarkets up and down the country. We can only speculate as to what the impact would be if England actually won!

Historically events such as the World Cup, Olympics and other popular shows have often led to an increase in consumer confidence and consumer spending. Retailers in the UK will be hoping that the impact of the World Cup is around for a long time to come!

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