The Olympic Games attracts worldwide attention for the host country, but how does an influx of tourists affect retail footfall? We’ve crunched the numbers from London 2012 to predict what retailers and shopping centres in Brazil can expect ahead of Rio 2016.
Looking at data from across the UK during both the previous Olympic and Paralympic Games, it is clear that, despite predictions of retail revenue increasing by up to £561 million, spending did not soar during London 2012, as consumers were distracted by the event.
However, looking at UK footfall data for this same period, there are opportunities available to retailers and shopping centres that want to maximise consumer interest in Rio 2016:
First week growth:
The good news for Brazil’s retail sector is that retail footfall in the host nation grew during the first week of the previous Olympic and ….