The Deloitte Consumer Review series aims to provide an
insightful and impartial view of selected consumer trends that we
believe will have a significant impact on Consumer businesses.
The London 2012 Olympic and Paralympic Games will be the largest
global consumer event this year and will inaugurate a decade where
the UK hosts a number of major world-class sporting events. This
edition,
The Games Consumer, considers how over the course of the next
ten years hosting such high profile events will present important
commercial opportunities for consumer-focused businesses. It then
reviews how the most connected Games ever will provide a step
change in digital consumption. Finally it examines how the Games
global reach represents opportunities for the brand of Britain to
engage with global consumers.
The report also includes Q1 2012 results of our quarterly
Deloitte Consumer Tracker a forward-looking economic update,
focusing on consumer spending attitudes and behaviours based on our
proprietary consumer survey and predictive analysis. The Tracker
provides detailed insight into the patterns of consumer spending on
a category-by-category basis and looks into the underlying drivers
of spending behaviour.
Key findings
The Games Consumer
Our report highlights the opportunities that major sporting
events like the London 2012 Games present. They will not only
further the UK's reputation and track record as an attractive
location, but will also benefit businesses in the consumer
sector:
The development of physical facilities and the intellectual
capital gained from event management will position the UK as a
centre of sporting excellence.
The forthcoming Games, which promises to be the most connected
Games ever, will also be a catalyst in shaping the way world events
are 'consumed' and delivered in future, and will further
the step change in the take up of digital services and
products.
In the next ten years the global stature of the UK will be
enhanced and its improved public image will help tourism and
consumer spending. For example, our research shows that
London's hosting of the Games has strongly influenced the level
of engagement of Chinese and Indian respondents, with nearly 80 per
cent indicating they would like to visit Britain as a result.
The Deloitte Consumer Tracker
Q1 2012 shows tentative signs of improvements in consumer
conditions. Sentiments strengthen in three areas out of six and
consumer behaviours have become less defensive in the last
quarter
Lowering inflation is generally expected to support consumer
spending as the latest official data shows an uptrend in retail
sales and household expenditure.
However there is clearly some uncertainty for the consumer
sector with discretionary categories staying subdued as consumers
remain cautious while deleveraging.
But with the pace of decline in inflation slower than expected
due to the sharp rise in oil prices, whether the UK consumer is
able to contribute to an economic recovery this year remains
uncertain.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
Specific Questions relating to this article should be addressed directly to the author.
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