Allardyce, who has been working in Germany as a pundit for ITV, has identified a number of potential transfer targets during the tournament, including Ghana's attacking midfield player, Sulley Muntani, who is unsettled at the Italian club, Udinese.
He has also been in regular contact with his assistant, Sammy Lee, who is a key member of Eriksson's coaching team.
"ITV are paying me to be here but Bolton Wanderers is certainly getting the benefit," he said.
"Life's still a struggle and inflation has certainly kicked in, considering the prices we are being quoted, especially when it comes to getting the goalscorer I'm looking for. But the search goes on.
"Sammy and I have identified a number of possible targets, which we're following up."
Meanwhile, Bolton boss Sam Allardyce is delighted to have secured midfielder Ivan Campo to a new two-year contract.
"It's great to have him on board for another two years," the manager said. "The only times he has struggled were when he first came and last year, when he was unfortunate with his two metatarsal breaks.
"But that's not going to cause him any more problems. He doesn't have to run around like a Gary Speed to have an effect on a game.
"He's very clever and a major influence when he's on song."