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.
I think the biggest commercial opportunity is going to be with tourists
A baby sleepsuit modelled 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 (€281 million) 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 US, 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.
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 per cent between January-March this year.
“I think the biggest commercial opportunity is going to be with tourists,” Cope said, pointing to a 13 per cent rise in tourists arrivals in April.
Bamfield forecast 4.8 million people would splash out £62 million (€72.7 million) on alcohol to wet the future monarch’s head and spend £25 million (€29.3 million) on food for baby parties.
He expected £156 million (€183 million) to be spent on commemorative china and other collectables, toys, books, DVDs and media.
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.”