Supermarkets bore the brunt of England's poor performance at the 2014 Fifa World Cup.
Figures released by IRI noted that food and drink sales dropped by £55 million after the Three Lions crashed out at the group stage in Brazil. Supermarkets were positive going into the tournament with many recording an increase in sales of alcohol, soft drinks, party goods, bagged snacks and pizza with many people stocking up for the opening group game against Italy, FoodManufacturer.co.uk reports.
However, following the loss to the Azzurri and Uruguay a few days later, the IRI noted a £38 million drop in sales. There was a further fall for the week ending June 28th after England toiled to a 0-0 draw against Costa Rica. It culminated in an overall loss of £55 million to £60 million in the two-week period.
It was not all bad news for supermarkets however as the IRI recorded net sales increase of beer, wine and spirits in the third week of the World Cup with figures increasing by £5.7 million. However, it still represented a £37.1 million drop in value compared to the first week of the tournament.
Tim Eales, director of strategic insight at IRI, was quoted by the news provider as saying: "The World Cup effect has virtually worn off now. Sales would have definitely been higher if England had stayed in the competition a bit longer."
England's elimination at the group stage was the first time they had failed to make the knockout rounds at a World Cup since 1958. They left the competition without recording a single victory despite being touted to make at least the last 16.
The semi-finals of the World Cup take place this week with Brazil facing Germany and Argentina taking on Holland to determine who will play in Sunday's (June 13th) final.