The wedding of Prince William and Kate Middleton could result in a £515.5m spending bonanza in the UK, with 6.5m Brits likely to mark the occasion in some way, according to new research.
The study, from shopping comparison site Kelkoo, found that £76.9m (14.9%) of the total spend will be carried out online.
Kelkoo said the current average of royal merchandise sold online is 10.5%.
Around 25.9% (£57.7m) of Royal wedding merchandise (souvenirs and memorabilia) will be bought online, while internet sales will account for almost 60% of purchases by overseas customers.
Food and drink is predicted to generate the highest expenditure at around £236.5m (46%), while sales of souvenirs, memorabilia, and wedding-related merchandise could generate as much as £222.3m, including five million commemorative coins (£24.9m), three million mugs and pottery products (£18 m), and £10m worth of replica jewellery.
Joe Cross, brand manager at Kelkoo said: “At a time when the headlines seem to be dominated by bad news, the nation is rightly seizing the opportunity to celebrate something positive.
“William and Kate’s big day will be a cause for universal celebration, and an inevitable by-product of this will be an increase in retail spending. With the many challenges that 2011 is anticipated to bring for retailers, the £515.5m boost that the Royal wedding is expected to deliver will undoubtedly provide some welcome relief.”
Source: www.kelkoo.com
