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
National

California passes 'yes-means-yes' campus sexual assault bill

Californian lawmakers passed a law on Thursday requiring universities to adopt "affirmative consent" language in their definitions of consensual sex, part of a nationwide drive to curb sexual assault on…

National

Syrian refugees top 3 million, half of all…

By Stephanie NebehayGENEVA (Reuters) - Three million Syrian refugees will have registered in neighboring countries as of Friday, but many remain trapped by the advance…

International

North Korean leader's money manager defects in Russia:…

A senior North Korean banking official who managed money for leader Kim Jong Un has defected in Russia and was seeking asylum in a third country, a South Korean newspaper…

Local

MAP: New York City Street Closures August 29,…

The Department of Transportation and NYPD said there may be residual delays near all of the street closures on August 29, 31 and 31. Several streets and avenues will be…

Going Out

'Friends' coffeehouse Central Perk coming to NYC —…

"Friends" is coming back for a one-off special: "The One with the Free Coffee." Warner Bros. is bringing a pop-up replica of Central Perk, the…

Movies

Interview: 'As Above, So Below' directors: 5 ways…

The fraternal directors of the found footage horror "As Above, So Below" dish on the best ways to frighten the bejesus out of audiences.

Movies

Criterion's new Jacques Demy box mixes the light…

Jacques Demy, the most effervescent of French New Wave filmmakers, gets a Criterion box all to himself, with classics like "The Umbrellas of Cherbourg."

Entertainment

Comedian Joan Rivers, 81, rushed to New York…

NEW YORK (Reuters) - Acerbic comedian and fashion critic Joan Rivers was rushed to Mount Sinai Hospital in New York on Thursday after she reportedly…

NFL

3 things we learned in the Giants preseason…

The final score didn’t matter — a 16-13 win by the Giants — but it would’ve been nice to finally see Big Blue’s new-look offense get on track.

NFL

NFL Power Rankings: Seahawks, Broncos, Patriots, 49ers start…

NFL Power Rankings: Seahawks, Broncos, Patriots start at top

U.S. Soccer

5 facts about new England captain Wayne Rooney

Manchester United striker Wayne Rooney was named as the new England captain by coach Roy Hodgson on Thursday.

NFL

Jets vs. Eagles: 3 things to watch

A win on Thursday night at the Eagles would give the Jets a 3-1 record and just their second winning preseason under head coach Rex Ryan.

Style

Trend: White hot on the 2014 Emmy's red…

White was one of the big trends on the Emmy's red carpet.

Food

Recipe: Samuel Adams beer-marinated grilled shrimp

Summer calls for two things: a cold beer and light food. Sam Adams' Latitude 48 IPA fairly bursts with citrus notes, making it an ideal marinade…

Wellbeing

4 healthy ingredient swaps to make your meals…

When it comes to eating well, everyone knows they could be doing better. But cooking in an apartment on a busy schedule is a recipe…

Wellbeing

Heart trumps brain when it comes to movies…

When you need a good cry, do you reach for the movie that’s “based on a true story”? Science says you’re giving your brain far…