Royal baby madness to give British economy $400M bump
Robert Hardman, author of "Her Majesty," told CBS News, "Royal births are always a moment for great celebration, when Prince Charles was born they even dyed the fountains of Trafalgar Square blue. I don't know whether that's going to happen this time, but it's a huge global event. In fact, the level interest is... there's more interest overseas right now than there is in Britain."
And just who will buy all of this stuff? You, my royal baby obsessed reader. You.
"There has been a lot of interest across the Atlantic as well, as the younger royals are very well thought of in the United States, so we are expecting good sales of souvenirs," Joshua Bamfield, director of the Centre for Retail Research (CRR) told Reuters.
Bamfield adds that he expects consumers to spend a staggering $380 million on related gifts and celebrations; with, not surprisingly, nearly a quarter of that amount spent on alcohol. Copycat parents will also be eyeballing the new royal baby's fashion sense and taste in stuffed animals.
"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."
In addition to retailers, the Royal Mint is also managing its own tie-in with a special solid silver coin given to any baby that shares the same birthdate as Kate and William's. With an average of 2,000 children delivered daily in the U.K., the Mint is preparing for the event by issuing 2,013 pieces of currency for the lucky tots.
"The birth of the royal baby will be a joyous occasion not just for [the couple] but also for the whole nation, as we prepare to celebrate another remarkable milestone in their life journey together," Shane Bissett, Director of Commemorative Coin at the Royal Mint, said in a statement.
"It will also be a special day for many mothers and fathers across the country as they too welcome the arrival of their new baby, hence why we wanted to extend this historical moment to them with a lucky silver penny."
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