Retail gain from Royal Wedding could reach £527million
Retail consultancy, The Centre for Retail Research, has estimated that the retail gain from the royal wedding could be as much as £527million.
The Centre predicts that the extra spending on food and drink could reach £156.5million. It also says that an additional £370million worth of spending is likely due to the extra bank holiday, sales of memorabilia and increased spending by tourists coming to the UK to experience the wedding.
It estimates that the sales uplifts are likely to be:-
- 1/2 million bottles of champagne, 3.5 million commemorative mugs and pottery, 5 million coins and tokens, 360,000 extra tourists, and lots of flags.
- Total spending on merchandise should reach £157.5 million (excluding food items).
- The biggest sellers will be souvenirs including tea towels, tea caddies, trays, models and flags worth £26.9 million.
- Commemorative books, biographies and albums - around 1.5 million units worth £22.5 million.
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