The upcoming NRL and AFL rugby finals are set to have positive associated effects for a variety of retailers in Australia, according to IBISWorld.
Retail research carried out by the company shows that Australian NRL and AFL fans will spend a combined total of $595.6 million on finals celebrations, which represents an increase of 6.3 per cent compared to last year.
In particular, the retailers that are set to reap the most benefits from the fast-approaching finals are liquor retailers, pubs, bars and those selling other goods such as electricals and appliances.
“While the controversy that has surrounded this year’s football seasons has thrown up a number of challenges for both codes and the clubs involved, the AFL and NRL are powering on and both finals series are expected to draw in record viewership and attendance,” said IBISWorld General Manager (Australia) Karen Dobie in a September 6 statement.
While fewer interstate teams in both competitions will mean tourism spending will soften, this is expected to be offset by increases in other areas.
“However, growing consumer sentiment is expected to see fans throw caution to the wind, with thousands splashing out on game tickets, big-screen TVs, new barbecues, alcohol and a bet or two during the series,” Ms Dobie said.
In 2013, IBISWorld business analysts forecast that Australians will spend $165 million on alcohol at liquor retailers and $149 million at bars, an increase of 6.5 per cent and 6.4 per cent, respectively, from last year.
Meanwhile, the traditional barbecue for the finals will see appliance retailers getting a boost to the tune of $70.7 million this year. IBISWorld analysts predict hosts will splurge on a TV for the occasion or a brand new barbecue.
Businesses may wish to take advantage of this sports-assisted boost in consumer spend when it comes to developing a retail strategy around the upcoming finals.