The start-up SumUp, which specializes in payment terminals, had fun deciphering the impact of the Rugby World Cup on the catering and accommodation sectors in France.
The Webb Ellis Cup. ©Wikipedia, the free encyclopedia
South Africa therefore became the first nation to record a fourth world title on its record. By attracting thousands of enthusiasts, this tenth World Cup had a positive economic impact on many sectors, in particular those of catering and hotels… a promising foretaste of the 2024 Olympics. Fintech Sum Up takes stock of the event.
Retail activity at the national level increased by 6.3%
During the home stretch of the competition, business activity at the national level increased by 6.3% on the days of Friday October 27 and Saturday October 28 (compared to 2022 on the dates of October 28 and 29). october). In details, It is the hotel industry, with a business volume up 11.6% and an 18.2% increase in its activity* which is particularly doing well with the event. In addition, cafes/restaurants, whose activity recorded growth of 6.3%, are also benefiting from this improvement. However, a sign that inflation is never far away, we observe that the average basket, amounting to 26.8 euros, shows a drop of 4.6%.
Over the period from October 20 to 22, 2023, the semi-final was also very promising for the French economy. Supporting evidence, the average business volume of merchants is up 7.4% while their activity is increasing by 12.7%. Food trucks, which recorded an increase in their business volume of 12.3% and their activity of 17.3%, as well as the hotel industry (respectively +9.5%; +14.7%) are the winners of the market. If the signals are green, they reached their peak during the period from September 8 to 10, 2023, as evidenced by the activity of traders increasing by 29.8% on average. Once again, cafes and restaurants (+34.4% in terms of activity and +21% in terms of business volume) and the hotel sector (+26.1% in activity) as well as bars/Clubs (+16.8% business volume) benefited from this.
The accommodation sector on the rise significantly
These positive lessons are confirmed in Île-de-France. A large number of indicators are green, as evidenced by retail activity up 12.1% on the days of Friday October 27 and Saturday October 28 (compared to 2022 on the dates of October 28 and 29). Unquestionably, the accommodation sector with a significant increase in business volume of 117.2% is the big winner in the market. This represents an average basket of around 224.8 euros, an increase of 182.3% compared to 2022. This positive dynamic is also repeated over the period from October 20 to 22, 2023, during which the hotel industry recorded more moderate growth of around 47% in business volume, i.e. an average basket amounting to 135.6 euros. Comparatively, this sporting fervor had a positive impact on the activity of cafes/restaurants (+42.4%) and food trucks (+33.8%) over the opening weekend of the competition at the start of the school year. Our analysis shows that retailers have done well in this unmissable sporting event.
An average basket of almost 590 euros
The capital, at the heart of the celebrations, benefited from the benefits of this leading competition. During the weekend of the final, it is once again the accommodation sector, with a strong growth in business volume of 242.8%, which is reaping the most benefits from this meeting. With an average basket of around 587.1 euros (almost tripled compared to 2022), fans of the oval ball had to put their hands in their wallets to encourage their favorite team. Although on a smaller scale, the phenomenon is repeated over the semi-final weekend (from October 20 to 22) during which we observe a significant increase in the business volume of bars (+141.4%) and the hotel industry. (+181.9%). A phenomenon in constant evolution since the kick-off of the Rugby World Cup.
« The lessons from our study demonstrate that oval ball fever gave a boost to the national economy. The hotel sector as well as restaurants, bars and food trucks have largely benefited from the arrival of French and foreign tourists in the capital. If the latter kept a close eye on their budget, had fun and made the most of the festivities, as evidenced by our analysis of the average ticket for restaurants and the accommodation sector. Our results show that consumers have made the choice of sharing and conviviality. These green indicators bode well for the 2024 Olympics which will start in a year” explains SumUp in a press release.
* average number of banking transactions carried out by SumUp customers.
** average value in euros per transaction made via a SumUp payment terminal.
