Retailers have more than one reason to enjoy the Rugby World Cup as statistics reveal that consumers have more money to spend during the event.
The average UK household income increased by 10.7% to £191 compared to August last year, giving families an extra £18 to spend every week.
Cebr Economist Sam Alderson said: “With wages rising at rates well above inflation, households are in a great position to enjoy the autumn months and events such as the Rugby World Cup.”
The Asda income tracker reveals a retail environment well suited to enthusiastic rugby fans: the price of big screen TVs and sound bars fell by 12.9% compared to last year, whilst food and drink prices decreased by 2.9%.
Asda CEO Andy Clarke said: “Events such as this year‘s Rugby World Cup provide economies with a shot in the arm and supporters visiting from across the world will be pleased to see that a fall in the rate of inflation across travel, hotel, sports equipment and restaurants are all contributing to an increase in disposable income.”
Alderson continued by saying that “In the wake of global headwinds emanating from the slowdown in the in the Chinese economy, further evidence of strong growth in family spending power is welcome news for the UK economy.”
Fans and retailers alike would be wise to keep their eyes peeled for Rugby World Cup offers, though how much consumers are willing to spend may unfortunately depend on England‘s performance.