A new survey by Ireland’s largest retail industry group Retail Excellence Ireland reveals that Irish retailers are predicting a significant boost in retail sales this June from Ireland’s participation in Euro 2012.
The estimated sales lift expected is €250m, with a further €18m lift anticipated should Ireland reach the final match of the tournament.
From the retailers who took part in the survey, 55% of them expect their sales to increase. Of these retailers, 52% expect their sales to increase by 1-4%.
12% expect their sales to increase by 4-6% and 6% expect a boost of 6-9%.
A further 30% of those expecting an increase in their sales expect the level of increase to be above 30%.
Among consumer products that are expected to benefit most are sales of TVs, sportswear and takeout food.
“This increased retail activity is to be welcomed as 2012 has been relatively disappointing so far. The ongoing crisis of confidence in the single currency together with continued redundancy announcements is helping to keep consumer confidence low. Seen in this light, the country’s participation in the Euros is having a very positive economic effect,“ said David Fitzsimons, Chief Executive, Retail Excellence Ireland.