The wedding of Prince William and Kate Middleton is expected to spark a £515.5m spending bonanza in the UK, with 6.5m Brits likely to mark the occasion in some way, say analysts.
Of that total, £76.9m (14.9%) will be carried out online, compared to the current average of 10.5%, says Kelkoo. Around 25.9% (£57.7m) of Royal wedding merchandise (souvenirs and memorabilia) will be bought online, while internet sales will account for almost 60% of purchases by overseas customers.
Food and drink is predicted to generate the highest expenditure at around £236.5m (46%), while sales of souvenirs, memorabilia, and wedding-related merchandise could generate as much as £222.3m, including five million commemorative coins (£24.9m), three million mugs and pottery products (£18 m), and £10m worth of replica jewellery.
Joe Cross, brand manager at Kelkoo said: “At a time when the headlines seem to be dominated by bad news, the nation is rightly seizing the opportunity to celebrate something positive. William and Kate’s big day will be a cause for universal celebration, and an inevitable by-product of this will be an increase in retail spending. With the many challenges that 2011 is anticipated to bring for retailers, the £515.5m boost that the Royal wedding is expected to deliver will undoubtedly provide some welcome relief.”
