Trap's army helps shops to score
Euro 2012 could give the Irish retail sector a €250,000,000 boost.
David Fitzsimons of Retail Excellence Ireland (REI) expects a five per cent lift in retail sales this month compared with June 2011 figures.
A recent REI report carried out ahead of the tournament found that more than 54.8 per cent of Irish retailers expected to benefit from a significant increase in sales as a result of Irish involvement in the competition. Sales of widescreen TVs have already increased, giving electronics retailers a much-needed fillip after months of moribund sales figures.
As the channel-hopping contingent of Irish support searches for the best deals, retailers are looking at new ways of marketing products.
Many stores are offering official Ireland jerseys, assorted merchandise and other packages to take full advantage of the Euro 2012 frenzy.
Harvey Norman has noted a 30 per cent sales increase from June 2011 and attributes around 10 per cent of this to our participation in Euro 2012.
A Harvey Norman store manager said that it's around "a 50/50 split between customers who come in search of these deals and walk-in customers who end up buying them".
The REI report shows that Irish retailers believe that sports competitions present huge trade opportunities with Euro 2012 offering the most valuable prospects.
On the REI's value rating of one to 10, Irish retailers ranked Euro 2012 at 7.73 out of 10 and the most potentially profitable on their shortlist.
As far as other major sporting competitions rank, the Heineken Cup, Ryder Cup and the Punchestown and Cheltenham racing festivals are regarded as significant profit drivers by the retail industry.
However, the London Olympic Games will not result in a sales bonanza, retailers believe. The Games are at the bottom of the REI shortlist, scoring only 3.21 out of 10.