Scoring Big: Winning Retail Tactics that Capture the Euro Cup Crowd
According to GfK Research, Big 'football years' were a huge win for TV sales, with May and June emerging as the top scorers [1]. Marketers worldwide seized this rare marketing opportunity to display their brands to a global audience at the UEFA European Championships in Germany. The excitement of stadium crowds combined with the coziness of living room couches promises to make the 2024 European Championship an incredible spectacle that captivates audiences beyond national boundaries, winning over hearts even outside the realm of football fans [2].
From June 14 to July 14, the UEFA European Championships feature 24 nations competing in 51 thrilling matches across Ten German Cities: Berlin, Dortmund, Düsseldorf, Frankfurt am Main, Gelsenkirchen, Hamburg, K?ln, Leipzig, München, and Stuttgart. While the action unfolds on the field, the real challenge for advertisers is to capture the interest of millions of viewers worldwide and the local football audience in these cities.
Given the widespread popularity of sports, it's only natural for retailers to capitalize on athletic events [3]. However, sports events can also lead to decreased foot traffic as more people opt to watch games, affecting physical store visits. Despite this, the demand for athletic activities continues to rise, prompting many businesses to enhance their strategies to attract sports enthusiasts.
Prominent supermarkets and convenience stores have a unique chance to leverage this prestigious event to boost sales and brand recognition, even as sports businesses benefit from increased sales of officially licensed products and other sporting merchandise. To offer innovative sales solutions, retailers are eager to explore additional data insights [4].
The Retail Impact of Major Athletic Events
Major athletic events generate nationwide enthusiasm, giving retailers ample opportunities to stimulate consumer purchasing. While sports events can create excitement, they also risk keeping customers at home, negatively affecting high-street businesses.
For instance, during the 2020 Euros, food sales surged by 4.2% due to extra spending ahead of the games [4]. In the 2022 Women's Euros were predicted to drive consumer spending of €899.79 million, with shoppers purchasing food and drink for football parties, BBQs, and other gatherings.
Strategies for Brands during the Euro-Cup Season
To maximize sales during the Euro-Cup season, brands can implement several strategies:
Lidl's UEFA EURO 2024 Experiences
To build up excitement and momentum, Lidl London offered a select group of consumers the chance to win a fully funded trip to Germany to attend a match during UEFA EURO 2024?. The store had 22 "trips for two" available, including tickets. The contest ran on the Lidl Plus app from April 18 until May 8, 2024, and was exclusively available to Lidl Plus members who spent at least ￡10 in-store[8]. Lidl Luxembourg and Belgium also promoted special offers like UEFA tickets through in-store posters with QR codes [9].
By implementing these strategies, brands and retailers were able to engage with their consumers and maximize their market presence during the highly anticipated UEFA European Championships.
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Summer of Sports: Euro 2024 and Olympics
To showcase AI-upscaled football on Neo QLED 8K TVs, Samsung designed a special POP (Point of Purchase) stand. It refers to the location or area where a consumer makes a purchase decision, typically within a retail environment. ?The bottom flag design may be altered to reflect customers’ nation's colours.
As Samsung is the official Olympic partner for wireless communications and computer equipment, they developed the Olympics Monitor POSM (Point of Sale Materials) to show the sponsorship in retail. Football Demo content could be enjoyed in 4K Neo QLED and QLED TVs. Point of Sale Materials are marketing materials used in retail environments to promote products and influence consumer purchasing decisions at the point of sale.
How to serve the increased demand and maximize profit at the same time?
During high-demand periods, such as the Euro Cup, companies quickly realize the immense value of having an AI pricing tool to streamline their operations. One of the critical questions during such times is: What should be the optimal price for your product when there is a surge in customer interest? Effectively managing this volatile pricing landscape requires not just intuition, but the right tools and datasets. This is where FOBOT (Forecast and Optimization Robot) comes into play. Developed by Cheil RPM Intelligence, FOBOT is a sophisticated dynamic pricing model system designed to recommend the best price levels tailored to meet specific sales objectives.
How to measure the effect of sporting events?
FOBOT utilizes advanced algorithms to simulate and predict sales across various marketing scenarios, providing companies with actionable insights to adjust their pricing strategies in real time. It can isolate the impact of sporting events on sales, helping maximize revenue, while maintaining a competitive edge. By doing so, it helps maximize revenue while maintaining a competitive edge. The key to navigating these present difficulties lies in understanding market dynamics and consumer behaviour. FOBOT’s capabilities extend beyond simple price adjustments; it offers a comprehensive analysis of market conditions, helping businesses anticipate demand shifts and respond proactively. Embracing AI-driven tools like FOBOT can significantly ease the challenges of pricing during high-demand events, enhancing overall operational efficiency and profitability.
About Retail Performance Management: A leading consumer intelligence consulting department delivering insights and strategic recommendations to optimize the retail experience. Composed of industry experts, intelligent data analytics, and innovative technologies, our comprehensive approach offers a holistic view of how we support our clients' retail initiatives and objectives.
About Cheil Germany GmbH: Cheil Germany belongs to Cheil Worldwide Inc., one of the world’s leading marketing solutions companies. Established in 1973 with headquarters in Seoul, South Korea, Cheil's thousands of global employees create ideas that move brands, products and people from its 44 offices and 7 affiliates in 37 countries. Cheil delivers innovative communications strategies that drive business results through full-service advertising capabilities and beyond, with specialties in shopper marketing, experiential retail design, PR, sports marketing, and special events. Cheil's creativity is world renowned, as the network is highly awarded by international festivals, including Cannes Lions, CLIO, Spikes Asia, Dubai Lynx, AdFest and Effie Awards. The network enjoyed a stellar performance at the latest 2013 Cannes Lions International Festival of Creativity, winning 21 Lions.
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Business Buyer & Business Coach For Retailers
5 个月valuable insights for independent retailers to engage sports-enthusiast customers. By adopting themed promotions, leveraging technology for interactive experiences, and creating exclusive offers, retailers can tap into the excitement of major sporting events like the Euro Cup to drive sales and create memorable in-store experiences.
Insightful thoughts on the marketing strategies adapted to sports events!