Royal baby worth millions to the economy
The royal baby could be worth billions of pounds to the economy if it’s a girl say retail experts.
Professor Joshua Bamfield, director of the Centre for Retail Research, claims that if the Duchess of Cambridge, who is expecting her second child with her husband Prince William, gives birth to a girl, the princess could help bring in the enormous sum over her life time with $80 million being made in just the first few days.
The birth of the couple’s first child, Prince George, in July 2013, boosted the economy by £246 million – a figure which is expected to grow considerably if the new baby is female with fashion retailers benefitting the most.
He told the Daily Telegraph newspaper: “I think there will be an immediate boost of around £80m when the baby is born, with around £20-£25m spent on souvenirs and the rest on food and drink such as cake and sparkling wine. There isn’t as much excitement when it’s the second baby, but a girl would have the potential to boost the fashion industry.
“As well as the boost to baby clothing sales that we have seen from Prince George, a Princess would be able to set trends throughout her life, which will be great for the people who designed her clothes or those who can make quick knock-off copies.
“It might even provide the impetus for people to start up whole new companies.”
Many companies have already announced the production of souvenirs and commemorative items to mark the birth and the Royal Collection Trust is releasing it’s own official royal baby range, thought to include plates and cups, to be sold in gift stores and online.