This Friday’s royal wedding could be worth as much as £527m to retailers.
The Centre for Retail Research estimates that souvenirs, memorabilia and other wedding-linked merchandise will net around £199m, food and drink celebration spending will be worth some £156m, additional tourist retail spending will bring in £61m and additional bank holiday retail spending will bring in £110m.
The retail analyst expects the biggest sellers to be souvenirs, including tea towels, tea caddies, trays, models and flags. It predicts that 3.5m commemorative mugs and other pottery items will be sold, along with half a million bottles of champagne.
It also says that over £90m of the extra retail spend will be done online – and Woolworths.co.uk has confirmed that the wedding is indeed contributing to a surge in sales.
It has already sold enough bunting to go around Buckingham Palace four times, enough balloons to cover a football pitch and enough royal wedding party cups and glasses to serve champagne to everyone in London and Liverpool put together.
Woolworths says that the extra bank holiday for the royal wedding is also encouraging parents to buy more toys to keep children entertained.