England’s tears have barely had time to dry and already the World Cup merchandise sell-off is under way.

As a few hardy souls cling to the oh-so desperate hope that the stars could align and Hodgson’s boys won’t be flying home on Wednesday, some of Britain’s retailers are taking a more realistic approach to the tournament.

When it comes to online activity, Sainsbury’s has been quick off the mark. A host of products adorned with St George’s Cross, including bunting, napkins and body flags were reduced to half-price overnight on its website. Sainsbury’s shoppers with a grudge against their neighbours can now snap up a ‘Brazil Big Band Drum’ for £3.49, and will have to fork out just £2.49 for a caxixi (For those who don’t know their caxixi from their coccyx, it is a seed-filled container – traditionally a basket – used as a percussion instrument. Think a lobster pot with attitude.)

England World Cup merchandise sell-off

The great sell-off: retailers are marking down England stock

Sainsbury’s insists its Cup merchandise has been – and continues to be – “really popular” with customers. “Although England isn’t doing as well as everyone hoped they would, people still want to enjoy the carnival spirit of Brazil 2014,” said a spokesman.

Morrisons seems to have played a blinder, claiming it has nearly sold through on its merchandise. (This raises the question of what Morrisons would have done had England got through to the knockout stage, although the retailer said most fans buy their goodies before the tournament kicks off.)

Meanwhile, at The Co-operative, we hear all England-related stock is being priced at 75% off.

The whole industry will be nervously waiting to see what impact last night’s 2-1 defeat will have in the food and drink aisles, where suppliers and retailers have enjoyed booming sales of party food, and a 50% year-on-year surge in lager sales. Heineken was putting a positive spin on the situation even before Luis Suarez worked his ‘magic’, pointing out to me a few days ago that England was home to football fans from many nations who would be following their own teams.

And, for the time being at least, the weather forecast is good, which will keep booze and barbecue sales strong.

Finally, one product Asda isn’t going to have to worry about is an England Yard Glass that sold out in just a few weeks back in May, according to BrandView data. I dare say it proved very useful for drowning sorrows last night.

More on the World Cup here.