Olympics give retailers revenue increase hope

Retailers are doubly optimistic that the Olympics will cause a rise in sales compared to last Summer.

Deloitte’s Game’s Readiness survey has shown that 84% of major retailers now expect an increase in demand for their goods in contrast to only 38% in May 2011. The majority of respondents said that they will launch new marketing campaigns during the Olympics as well as increasing their stock levels.

The Olympics have secured some major retail names as sponsors such as John Lewis and Next as the official clothing and homewares supplier.

However, some are worried that the normal tourism trade of the British Summer time will dwindle, with most opting to avoid the crowds. It’s feared that the West End could suffer the most, especially since Westfields Stratford is situated in such close proximity to the main Olympic ground.