The birth of Prince William and Kate’s new baby looks set to boost British business on a temporary basis, business leaders say. The tourist industry could see a boost and the retail industry looks set to benefit as customers indulge in souvenirs and champagne in celebration of the birth.
Business leaders and analysts have predicted that retail sales could increase to £243 million based on the sales seen as a result of the couple’s wedding in 2011. Figures are also based on those taken during the diamond jubilee of Queen Elizabeth II. The sales of souvenirs, baby products and brands associated with Prince William and Kate look set to increase significantly for a temporary period, giving retailers a much needed business boost. The director general of the British Retail Consortium, Helen Dickinson, has also pointed out that the feelgood factor is also likely to play a role. A temporary lift in the general mood of the public may lead to further sales in the retail sector.
International followers of Prince William and Kate also look set to boost the UK business economy. Tourism looks set to be lifted by the influx of international visitors. In addition, due to the global interest in the royal baby, many internationals may be more likely to visit British brand websites and stores. There also looks set to be an increase in the sales of commemorative items and alcohol sales could receive a boost as many will want to toast the birth.
The royal baby is just one of several events which have created a more positive outlook among British consumers. The recent Wimbledon win from British tennis star Andy Murray and the England cricket team’s victory against Australia in the Ashes have both contributed to the positive mood in Britain. Along with the royal baby, businesses in the UK look set to see positive growth over the next few months.
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