After last night’s defeat, England’s World Cup dreams are over. However, there’s a lot to learn from the way Gareth Southgate and the squad have brought a divided nation together and given us hope in amongst a difficult political climate.
Daniel Todaro, managing director of Gekko, looks at how the World Cup has boosted sales for electronic retailers and changed the mood of the economy...
The positive bridge created by a sporting event to extend to politics and the economy has been evident this week as we heard Gareth Southgate eloquently talk about the divide in the UK that is being repaired through a shared sense of pride in an England football team. A team that will be seen as winners whatever the outcome and not just for their skills on the pitch but also in the psyche of the UK or at the very least England.
Brand England was bolstered by a feel-good factor attributed to an increase in TV sales as World Cup fever gave something for electrical retailers to celebrate against a tough trading environment fuelling a massive uptick in large-screen TV sales since the start of the tournament, reported by the BRC.
Dixons Carphone has said sales of large screen TVs – that’s TVs bigger than 55in – at Currys PC World had been “brilliant”, as official figures show that retail sales across the UK rose in June.
Over the past four weeks, large-screen TV sales at Currys PC World increased by 40 per cent, while sales jumped 33 per cent since the Euro 2016 competition – the last time UK football fans had an excuse to upgrade.
The latest figures from the British Retail Consortium (BRC) and KPMG showed that total retail sales rose by 2.3 per cent across the UK. This is more than the two per cent rise in the same month last year.
The boost, mainly driven by beer, barbecues and big-screen TVs, comes after one of the best months in recent years in May, which coincided with rising temperatures and a celebratory atmosphere off the back of the royal wedding taking minds off more depressing matters weighing down heavily on the mind of the nation.
I can’t recall a sporting tournament that has engaged and changed the mood or economy of nation in such a manner since London 2012. With the events we are witnessing in the UK between bickering politicians that should grow up and lead by example, in the interests of the nation, maybe we should be learning from the example set by Mr Southgate and his team to ease tensions and increase the economy through a shared sense of pride and respect for each other.