World Cup Qatar 2022 and economy: how the results of the National Team influence consumption

The long faces on Tuesday at 9:30 a.m. were widespread and, a couple of hours later, the Argentine shirts and flags seemed nonsense. It is clear that nothing has been said yet, but the impact of Argentina result in the general mood is undeniable. And, to a lesser or greater extent, emotions have an impact on many areas of life; of which the economy is not exempt.

An area traditionally related to numbers and rationality is clearly traversed by the way people feel, perceive their present and imagine their future. Although the fact that Argentina wins the World Cup it will not solve the economic problemsyes you can influence consumption in the short term due to the social humor. This is because, according to specialists, a good part of the purchase decisions they are taken from what is called a reward system.

On the other hand, emotions like happinessthe euphoria and the enthusiasm they enable the possibility of going out, celebrating, sharing and -therefore- consuming.

At the other extreme, the discouragement, sadness and apathy; among other things, they lead to staying inside, seclusion and not being too eager or getting upset before time. This is noticeable in the change of speech of some brands that got on the wave of World Cup Qatar 2022 to promote themselves and that today, although they do not get off, they direct their speech towards love for the shirt “whatever happens”.

The Survey of Political Satisfaction and Public Opinion, which is carried out every month by the University of San Andrés and which had a special edition for the Soccer World Cup, showed that positive feelings predominate around this championship, such as enthusiasm (33%), passion (14%) and pride (9%) -a total of 56%-; against him 20% who expressed indifference and 2% rejection.

The journalist and specialist in sports marketing, Claudio Destefano, explained that for social humor it does not matter if Argentina goes ahead or does not. “December is a difficult month that has a bad mystique and it will not go through in the same way if Argentina is champion on December 18that if it returns before its time, “he said.

Lights and shadows before common problems

The euphoria that a good result in Argentina can cause is something that politicians have always tried to take advantage of and that has been expressed expressly by different officials of the current national government. The survey of the University of San Andrés also showed the impact that it has on the collective conscience since “91% believe that the World Cup is important for Argentines, but only 55% consider it important on a personal level”.

In this sense, Destéfano warned that Tuesday’s defeat set off the alerts in the Government, who perhaps was thinking of making complicated decisions during this month of the World Cup. “This can speed up the times of the same or postpone them indefinitely”, opined the specialist, who added that the same news does not impact in the same way on a Friday or a Saturdaywhen people’s attention is in weekend mode, than another day.

“The economy is very complicated and the World Cup does not save her, but it is true that people forget a bit or they can be more tolerant”, added Destéfano. If Argentina’s return from Qatar accelerates, in mid-December, the general and social mood could be less permeable to complex measures to digest, as well as the difficult situation that thousands of Argentines are experiencing. If, otherwise, Argentina were to keep the world Cup on December 18, those same problems could be better endured on a collective level.

In this sense, the economist Daniel Garro, from the consultancy Value International Group, said that in the short term the economy may be influenced by the mood of the World Cup matches, but that, later, “the fundamentals prevail.” He agreed that the Argentines can get a little distracted from their economic problems and that, once the championship is over, they will see that they are still there.

When emotions predispose

The Economist Sebastian Lazaauthor -together with Marisela Cuevas Sarmiento- of the book Economy of Emotionsexplained that it has been shown that events such as the World Cup mobilize emotions and predispose (or not) to consumption. Even –and because of the use of credit cards- some income restrictions are often violated because the current expense is diffused with the future.

“Waves of optimism, in general, tend to have big spenders”, explained the economist, who added that although the problems or the difficulty in making ends meet do not disappear, an emotional state of joy can favor a movement in consumption – even if it is short term.

In this context, and according to Laza’s book, Consumer Neuroscience, It has been shown that purchasing decisions would be made, to a large extent, “below the threshold of consciousness, where the most instinctive biology and the most emotional parts”.

Thus, the brands that manage to stimulate the call reward circuit of consumers -and the World Cup can be a great activator- are the ones that manage to stand out. These are issues highly developed by the so-called marketing of emotions, which works with the symbolic value of objects or experiencesas well as with the characteristic of the brain to make “quick” decisions in the face of what is known.

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