Royal Baby birth linked to £80m retail boom
The birth of royal baby Charlotte Elizabeth Diana will contribute £80m to the UK economy, according to estimates from the Centre for Retail Research.
Following the birth of heir to the throne Prince George two years ago which generated a bumper £247m, second-in-line Charlotte will spark significant, albeit lower, retail spend..
Spending estimates account for the month before and after the birth.
Souvenir sales such as commemorative DVDs, ceramic mugs, teapots, coins, tokens and memorabilia will raise £27m. The food market will be boosted by £25m and alcohol spend will surge £28m as a result of the birth.
Professor Joshua Bamfield, director of the Centre for Retail Research also suggested that the birth of the baby girl could have longer-term implications in the UK babywear, childrenswear, teens and fashion business worth £150m per annum as parents try to emulate the royal’s dress habits.
To check out how retailers responded to the royal baby birth, hit the link.