Prince William and Kate Middleton’s royal bundle of joy hasn’t even arrived yet, but market researchers say they already know how much the little tike is worth.
According to the U.K.’s Centre for Retail Research (CRR), the royal baby’s arrival will bring the equivalent of a $376-million U.S. boost to Britain’s economy, in the form of spending on souvenirs, books and DVDs and, of course, partying.
The centre estimates that Britons will spend an extra $93 million on alcohol sales alone, thanks to the royal birth.
One of the most closely watched elements of the birth will be the “unintentional Royal brand endorsement” of a brand of pram for the newborn, said professor Joshua Bamfield, head of the CRR.
“The carriage of choice for the royal arrival will no doubt become this year’s best selling pram for new and existing parents,” he said. “The ‘Kate effect’ has already taken the fashion world by storm with each of her choices flying off the shelves within moments of her leaving the house.”
All of this is officially approved by the royals, at least to an extent. Prince William and Kate gave their official seal of approval to baby-birth memorabilia last week.
The baby’s official due date is Saturday, July 13, but the royal family are keeping the baby’s gender under wraps — making it somewhat difficult to market memorabilia.
Some sellers have opted to go with generic royal family themes, such as the makers of this iPhone cover featuring a Union Jack and a baby wearing a crown.
CRR’s Bamfield says the royal baby amounts to a gift to British retailers at a time of sluggish economic growth.
“These are difficult times for retailers and every catalyst for consumer spending should be utilized as this will bring the economic recovery one step closer,” he said.
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