Baby boom: Will and Kate's child will bring millions to Royal Family …
With the birth of the royal baby expected in mid-July, baby fever has taken hold in every part of British society including retailing.
From clothing to souvenirs to DVDs, the future heir to the throne could have a big impact on GDP.
The U.K. Centre for Retail Research estimates in a report released Monday that the arrival of the baby could add the equivalent of $388 million Cdn to the British economy over July and August.
This is a good news story and there really is no downside, CCR director Joshua Bamfield told Reuters Monday1. With the birth coming in July, people will have time to get involved, and that means additional spending.
The report forecasts an estimated $140 million will be spent on food and drink, $127 million on souvenirs and toys, and another $121 million on books, DVDs and media.
It all adds up to be a pretty significant boost to the recession-hit country s economy.
Even the Royal Family will cash in on the baby bonanza, with the Queen s palace shops offering baby clothes and souvenirs celebrating the birth of Will and Kate s baby. Sales at the Royal Collection Trust gift shops help fund the upkeep of royal palaces.
A set of baby pyjamas in the style of a royal guardsman s uniform, available from palace gift shops.
Prince Charles own Highgrove Shop, proceeds of which go to the Prince of Wales charitable foundation, will sell handmade baby shoes emblazoned with either a tractor or Union Jack on the front.
Of course, the royal couple has plenty of fans on this side of the Atlantic, and the expected heir will be no different. Exports to Canada, the U.S.
and other English-speaking countries is expected to hit about $60 million, according to the CCR report, and that s not even counting all the merchandise originating outside the U.K.
Although the Royal Family hasn t given a precise due date, the consensus in the British press has pegged the birth for around July 13.