The World Cup’s arrival has been met with it’s share of naysayers and doubters when it comes to predictions as to how Canada will fare economically, with some reports projecting sluggish ticket sales and hotel bookings. But new data from Harris Poll suggests many businesses are still feeling optimistic.
A survey shared with strategy ahead of Harris’s quarterly BizPulse survey shows 53% of businesses expect the World Cup to have a positive economic impact in general and 59% believe the tournament will boost national pride.
When broken down, the numbers show a stark divide, with 60% of large-business owners (those with 30-plus employees) saying they expect revenue boosts for their companies compared to just 18% of those with less than 30 staffers.
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Ability to react
Kyle Davies, SVP at Harris Poll, says that while small businesses may be hoping for a bottom-line boost, they’re less able to commit to extra inventory or additional staffing compared to larger operations can that plan for an expected increase in demand far in advance. The data, he tells strategy, shows that while small firms are expecting benefits for the country’s economy as a whole, they’re less sure when it comes to their own businesses.
“Smaller businesses are nearly as likely as larger businesses to see the World Cup as being a good thing for the country in general and nearly as likely to say that it’s going to have a positive impact on things like national pride,” Davies says. “So they’re excited about it, they’re just not as confident that it will translate to their bottom line.”
Opportunity in flexibility
The difference in expectations is also reflected in how companies are structured.
Those that sell both online and offline were most likely to forecast a sales increase, with 55% expecting positive impact compared to those with an online focus (38%) and offline only (21%). Davies says companies with flexibility and options to reach customers feel they can capitalize on the influx in global travellers and interest in the event in Canada more broadly.
“Companies that have a more hybrid business model feel like they are best positioned to benefit from the World Cup,” he says. “They see more avenues or pathways to revenue growth.”
Legacy implications for brands
Beyond the immediate economic outlook, Davies says the World Cup provides a longer-term opportunity for brands looking to connect with Canadians during a moment of grassroots growth in the country. A recent poll from Canada Soccer showed the sport is the third most popular among all population segments, second most popular among those in the 18-44 demographic and number one among Canadians not born in the country.
“We know the world views us as a hockey country so the World Cup gives us a chance to show that we’re more than just that,” Davies says. “I think there will be an opportunity for marketers, not just on the ground at the stadiums, while we’re hosting the events, but perhaps in the longer term afterwards to kind of draft off of that momentum that the World Cup can bring.”
The Harris Poll’s BizPulse quarterly reporter surveyed 907 Canadian business leaders in an online poll between May 25 and June 10. Some of the questions were split sample, and therefore have a sample size of n=450 Canadian business owners and leaders.
