Shopper financial confidence reached highest level during World Cup festivities, says IGD
ShopperVista data from IGD found that shoppers’ financial outlook reached an all-time high.
Coinciding with the recent World Cup festivities, more shoppers believed that they are going to be better off financially in the next 12 months, from 18% at the beginning of the tournament to 30% in the week of the semi-finals, compared with 19% and 23% for the same time period last year. This was the highest level IGD has ever recorded.
This, however, then fell to 20% in the fifth week of the event following England’s defeat in the World Cup semi-finals.
In addition to a change in outlook, IGD’s research identified a difference in shopping behaviours with more shoppers seeking out food-to-go options during the World Cup. Notably, the number of those shopping for food on the go from retailers rose from 13% at the start of the tournament to 19% in the week of the semi-finals. This then decreased to 10% following the defeat of the England team.
With eating on the go rising in popularity during the five-week period, IGD’s research also identified an increase in those who prefer to buy prepared meals or to eat out over cooking from scratch, with this preference being strongest during the week of the semi-finals (30% vs. 24% in 2017).
Commenting on the change in attitudes and shopping behaviours during this period, Rhian Thomas, Head of Shopper Insight at IGD, said: “Our daily feedback from shoppers during the last five weeks paints an interesting picture of the impact significant events such as the World Cup have on shopper outlooks and behaviours. We can see that financial outlook for shoppers has been influenced during this period, suggesting that, while an event such as this doesn’t necessarily have a direct impact on shopper finances, it can inspire a lift in attitudes and behaviours in general.
“The increase in food-to-go shopping trips during England’s successful run, peaking during the semi-finals week, suggests that convenience was a key factor during this time and we predict businesses that invested in on-the-go options would have seen a positive response.
“The change we’ve seen in shopper attitudes and behaviours during the World Cup and recent heat wave indicate a real opportunity for businesses who capitalise on significant events such as these. The responsive nature of our ShopperVista research highlights how quickly shoppers’ attitudes and behaviours can change within a short period of time, which calls for a nimble and adaptive response from businesses in order to fulfil these ever-changing needs.”
World Cup fever also took hold of food and grocery businesses with a number of in-store activities taking place across the UK.
IGD is a training and research charity for the food and grocery industry, with experts based in the UK, Singapore and North America.
