Royal wedding may give Britain £620m boost
Tuesday’s news that the couple will tie the knot in either spring or summer next year was greeted with excitement by royal fans and most members of the public.
The eyes of the world will be on the pair as they walk down the aisle. But analysts also predict fans’ money will be on them too – with huge amounts spent on wedding souvenirs. British tourism should also be given a boost.
Neil Saunders, consulting director of retail researchers Verdict, said: “It’s hard to put an estimate on what benefit the royal engagement and subsequent wedding will bring to retailers but we believe in merchandise sales alone the engagement could be worth between £12m and £18m.
“Although times have changed since the last big royal engagement of Prince Charles and Lady Diana, many people will still be keen to buy some form of keepsake or memento and retailers will rush to capitalise on the merchandising opportunities.
“The benefit of the wedding itself is much bigger; however, the scale largely depends on how it will be executed.
“If, as expected, it is a big set-piece event, it could well capture the nation’s imagination and provide a fillip to the retail sector.
“We think wedding-related merchandise sales could easily top £26m in the UK, while food and grocery retailers could cash in to the tune of £360m as consumers buy extra treats to celebrate the occasion as well as champagne and wine to toast the happy couple.
“All of this is before the benefits of travel and tourism are factored in; these could well add an estimated additional £216m benefit.
“In total that means we are looking at a £620m consumer spending boost.”
PRINCE William’s romance with Kate Middleton “happened very naturally” during their university years, a friend said yesterday.
Jules Knight, who studied alongside the pair at St Andrews said they fell in love away from the limelight after being “really good friends”.
Speaking about the future king and his bride-to-be on BBC Breakfast, he said: “It was very odd really, we went to the first lecture at the beginning of term and there he was and I met him straight afterwards, he happened to be with a group of people who I knew.
“Really he was just like any other person and I met Kate on that day as well. Who would know that after eight or nine years they would actually be married?
“It’s a lovely thing. They had the time to be really good friends, they had no pressure really on them, it happened very naturally and they really fell in love.
“She came across so well in the interview that they did. I know that they are probably not that comfortable doing interviews like that. Actually she came across as herself, a very sweet, mild-mannered, incredibly polite, intelligent girl.
“She’s just fallen in love with a guy who happens to be Prince William and be in an extraordinary position.”
Talking about the media glare on Middleton, he said: “I think lots of Americans are absolutely fascinated by the whole thing.
“You saw those pictures of Kate walking to her car and I really hope that’s not going to be able to happen again because that was almost the worst time when she was the girlfriend of Prince William.
“Now she will be afforded the protection and she will be in that kind of bubble. I am sure it will get pretty intense for her. She’s had to deal with a lot of pressure already and over the years has learned to cope with it.”
CONNECT WITH US TODAY
Be the first to know the latest news and updates
