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World Cup creates business opportunities in BrazilPosted 27/06/2018
Did you know that 1/3 of Brazilians usually spend more money during the World Cup? The information is from a study conducted by MindMiners to understand the behavior of the consumers during the championship.
The World Cup is an event of great relevance for companies and businesses at a global level, as it increases sales and transactions in different sectors of the market, expanding the potential of growth through this “golden” opportunity.
Before and during every World Cup, many companies distribute giveaways and offer discounts to attract consumers, and advertising related to the event and to the National Team are broadcast daily on TV and other media.
Nowadays, the World Cup is not simply an event about sport, it has a very important role in the economy of the hosting country and also of all the countries that are taking part in the championship.
Reasons to spend more money
60% of respondents pointed out that the main reason to increase spending would be the greater frequency of meetings with friends and family. 19% percent answered that, during the World Cup, they spend more by going to bars and restaurants, and 11% said they spend buying electronic goods to watch the games (TVs, smartphones, etc.).
Who profited with the 2014 World Cup?
Among the segments that benefited from the event, the bars standed out for having a 25% increase in sales, according to a research conducted by FGV in partnership with Ernst & Young.
The study also shows that among Brazilians who preferred to watch games at home, with family and friends, many decided to ensure a quality image, causing an increase of over 100% in television sales.
But not only bars, restaurants and hotels profit from the championship. Indirectly, the World Cup generates hundreds of other opportunities, not restricted to business that deal directly with consumers, but also for B2B (business to business) companies.
When companies decide to launch promotional actions for the World Cup -such as special labels and packings, for example – they generate business for many potential suppliers. Therefore, it may represent a great opportunity for foreign companies that want to establish themselves in Brazil. Although the World Cup lasts only a month, it can be used as an initial “kick-off” of the company’s operation in the country, helping to close partnerships and establish a first network of contacts that will be valuable for the company’s next steps in Brazil.Author's post: Europartner Accounting