Royal baby to give almost $400 million bump to British economy

 

Britain's Prince Andrew (L), Prince Harry (2nd L), Prince William (R) and Catherine, Duchess of Cambridge stand on the balcony of Buckingham Palace after the Trooping the Colour ceremony in central
Britain’s Prince Andrew, Prince Harry, Prince William and a pregnant Catherine, Duchess of Cambridge stand on the balcony of Buckingham Palace after the Trooping the Colour ceremony

From Union Jack booties to “Born to Rule” sleepwear, the British royal family has joined retailers in offering baby products to mark the arrival of the royal heir.

Analysts estimate the baby fever could boost the economy by 240 million pounds ($380 million).

A baby sleepsuit modeled on a guardsman’s outfit is one of the gifts on sale at palace shops by the Royal Collection Trust, which uses all profits for the upkeep of the royal palaces.

Prince Charles, the grandfather-to-be, is selling handmade baby shoes through a shop on his country estate Highgrove, while the mother-to-be’s parents, Carole and Michael Middleton, have added a range of baby goods to their party goods business.

Joshua Bamfield, director of the Centre for Retail Research (CRR), estimated that the arrival of the baby, due in July, could add more than 240 million pounds to the British economy.

“This is a good news story and there really is no downside. With the birth coming in July, people will have time to get involved, and that means additional spending,” Bamfield told Reuters after the release of the CRR’s report on Monday.

“There has been a lot of interest across the Atlantic as well, as the younger royals are very well thought of in the United States, so we are expecting good sales of souvenirs.”

The birth of the royal baby, who will be third in line to the throne after Prince Charles and Prince William, is the latest in a run of royal and sporting events.

Prince William married Kate Middleton in April 2011 and Queen Elizabeth marked her Diamond Jubilee in June last year. The London Olympics last summer added to the buzz.

Richard Cope, trends director at market researcher Mintel, expected the duke and duchess’s baby to have a positive impact on consumer spending, which only ticked up 0.1 percent between January-March this year.

“I think the biggest commercial opportunity is going to be with tourists,” Cope told Reuters, pointing to a 13 percent rise in tourists arrivals in April.

Bamfield forecast 4.8 million people would splash out 62 million pounds on alcohol to wet the future monarch’s head and spend 25 million pounds on food for baby parties.

He expected 156 million pounds to be spent on commemorative china and other collectables, toys, books, DVDs and media.

Bamfield said another knock-on effect of the birth would be sales of baby products as other new parents copied the duchess.

The “Kate-effect” is already well known as sales of anything the duchess wears or uses soars. A Dalmatian coat she wore last week to launch a new cruise ship sold out within an hour.

“One of the biggest factors will be the unintentional royal brand endorsement,” said Bamfield.

“The ‘Kate effect’ has already taken the fashion world by storm…and this trend will follow for the infant’s baby grows, rattles, first bike and so on.”

 


News
Entertainment
Sports
Lifestyle
Local

VIDEO: Police seek suspect in molotov cocktail attack…

Police released surveillance video on Wednesday in hopes of tracking down a man who threw a molotov cocktail inside a Brooklyn corner store.

Local

City Council budget asks for 1,000 additional NYPD…

Speaker Melissa Mark-Viverito unveiled the City Council's budget priorities on Wednesday, including the extra cops for the NYPD at a cost of $94.3 million.

Local

Behind the costumes at the Brooklyn Cosplay Fashion…

Echo Chronum, 17, is a quiet and reserved Brooklyn high school student who often buries herself in her homework. But there is another side to…

Local

Reddit helps man locate missing mother in New…

The Reddit community helped Josh Goldberg find his missing mother on Tuesday.

Television

TV watch list, Wednesday, April 23: 'Suburgatory,' 'Modern…

'Suburgatory' The men of "Suburgatory" go camping and Tessa mentors a social outcast in a Miss Chatswin contest, which brings her, once again, into conflict…

The Word

The best lines from Oprah's ex-stepmother's Daily Mail…

Oprah’s ex-stepmother, Barbara Winfrey, is out for revenge.

Books

A debut novel about fate, love and moving…

Pia Padukone talks about her debut novel, "Where Earth Meets Water."

Movies

Review: 'The Railway Man' is a literal-minded look…

In "The Railway Man," Colin Firth plays a WWII vet suffering from massive trauma acquired from his days as a beaten POW.

NBA

Phil Jackson talked to Steve Kerr, pushes for…

Knicks president Phil Jackson spoke to the media for the first time since firing head coach Mike Woodson on Monday.

MLB

Fantasy baseball: Searching for early season prospects

It’s relatively rare for a mediocre 30-year-old hitter to suddenly go nuts offensively for 162 games. That’s why minor league prospects are so exciting.

U.S. Soccer

NYCFC 'targeting' US international Mix Diskerud

Metro New York has learned Mix Diskerud has drawn “interest” from the expansion MLS side, NYCFC.

NFL

Jets announce they will return to Cortland for…

The tradition of holding camp in Cortland began in 2009 when Rex Ryan wanted to get his Jets away from the distractions of New York City.

Style

Pippa Middleton's Etsy pick: Golden Thread Jewelry

Get a look at the jewelry Pippa Middleton loves and find out how you can buy it too.

Parenting

What every parent needs to know to get…

Mom and author of "Small Talk," Tracey Blake, shares her five practical tips to help you develop your children's language skills.

Sex

Subway crush: Meet your soulmate on your commute

Read about a couple who has been 40 years after meeting on the train.

Tech

Happy birthday, Game Boy! The handheld console turns…

Nintendo's Game Boy turns 25 this week. To commemorate, we look at some of its better games, like "Tetris" and "The Legend of Zelda: Link’s Awakening."