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Royal Wedding Research
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Royal Wedding Research

THE ROYAL WEDDING - NEW ESTIMATES OF FORECAST RETAIL SPENDING

The Centre for Retail Research Limited, sponsored by Kelkoo, estimates the retail gain from the royal wedding as 527.1 million. Because the wedding is going to occur in April, we have revised downward our estimate of food spending, although this is counterbalanced by the fact that the day is a public holiday.

Our new estimates are:
   
Food/drink celebration spending
156.5 million
Souvenirs, memorabilia, and wedding-linked merchandise

199.1 million
Additional tourist retail spending
61.5 million
Additional Bank holiday retail spending
110.0 million

What will the weather be like? Answer: reasonable
Brian Gaze from TheWeatherOutlook (http://www.theweatheroutlook.com/) gives this special forecast

" ... along with recent weather patterns, and weather patterns during past Aprils, I am at this stage hopeful that the weather for the royal wedding in London will be reasonable. It's not possible at this range to give specific forecast details for a single day, but I would not be surprised to see temperatures of 13C - 15C in London, with bright spells and mostly dry conditions during the course of the day, with northern and western parts of Britain probably cooler, and more likely to see showers at times."

Street Parties
In contrast to earlier expectations, we cannot see more than 1,500 street parties being held in the UK and it could be less than this. A June date would have been much better. Nonetheless people will celebrate at home or in pubs and restaurants.

Likely Sales Uplifts are likely to be -

  • 1/2 million bottles of champagne, 3.5 million commemorative mugs and pottery, 5 million coins and tokens, 360000 extra tourists, and lots of flags and things.
  • 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.

Bank Holiday Retailing
Friday 29th April will be a Bank Holiday and we expect additional retail sales of 110.0 million on the Friday and Saturday caused by people who are unsympathetic, who just prefer shopping, or those who cannot let a useful shopping day pass by without recognition in some form.

Online spending
We expect 90.7 million (17.2% of the extra retail spending) to be done online. And consumers will do this during the royal wedding as well as before and afterwards.