ECONOMY

Fans’ disappointment impacts TV sales

Failure by Greece’s national soccer team to qualify for the knockout stages of the Euro 2008 soccer competition cost the retail electronic appliances market as disappointed fans went shopping for fewer television sets than expected. According to initial data, sales of televisions and DVDs rose 15 percent, well below expectations after retailers had embarked on costly advertising campaigns that largely focused on the soccer competition. Chains such as German retailer Media Markt launched special promotions, with customers buying a television set being promised their money back in full if the Greek team went on to win the championship. In Germany, however, the retailer was less generous, offering a 200-euro cash refund if the German national team eventually lifts the trophy. Other retailers offered free pizzas and beers along with each television set purchased. The sector is now looking forward to a boost in sales from the upcoming Olympic Games in Beijing. Due to the time difference between Greece and China, sales of DVD recorders are expected to be boosted by fans of the world’s biggest sporting event.