Analysts at Jefferies said on Wednesday the ICC event coinciding with the festivities in India is expected to have a positive impact on consumption and is particularly good news for delivery firms, liquor stores and soft drink makers. However, retailers and malls may experience lower footfall during the period.

“While overall consumption should see an upside there will be winners and losers. Of the 16 weekend days over the next two months, nearly half will have an India match or semi-final or final. On India match days, there should be negative impact on footfalls for movie theatres, theme parks and offline retail stores,” the analysts said in a note. “On the other hand, the ICC Men’s Cricket World Cup will provide boost to food delivery, quick commerce, alcoholic beverages, soft drinks, media and online gaming, etc. We expect firms to run world cup-specific promotions on the match days to tap this consumption boost,” they added.

Beverage sales slumped in the first half of 2023 as unseasonal rains disrupted demand.

India is hosting the cricket world cup after 12 years. When it had last hosted the event in 2011, nearly 1.2 million spectators had attended the matches in person at stadiums. Over the course of 45 days, the 13th edition of the cricket world cup will see 10 teams compete in 48 matches.

The restaurant sector is now preparing for a promising season after witnessing a demand slump for out-of-home food due to the high food inflation in the first half of the year.

“Delivery definitely will get a boost when the matches are on; We have also put up stalls inside stadiums. On delivery, we are working internally with our supply chain team to enhance our bandwidth starting Sunday. We feel the India match on 8th will be a real kicker,” said Sagar Daryani, co-founder and chief executive of WOW! Momo.

The period between January and June was very disappointing for the restaurant sector, Daryani said. “Even September was a very bad month for food and beverage business. But October-November will be on the upside with Diwali in November. The next three months look very exciting.”

However brands may exercise caution while spending on marketing this season as high prices of raw materials continue to worry restaurant owners, Daryani said.

Cricket being the most popular sport in India, attracts 85% of all sports sponsorships and media spending. In general, beverage and food firms see an uptick in business too.“Our teams will diligently manage peak-time orders with our delivery partners. Match Day Mania, cherished by millions in over 500 cities in full swing. We will help consumers discover restaurants screening live matches,” Swiggy’s vice president, national business head, Sidharth Bhakoo said.

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Updated: 05 Oct 2023, 11:23 PM IST