Royal wedding, a 120 million pounds opportunity for UK retailers

The royal wedding might have generated over 120 million pounds in sales for the retail sector in the UK, with Windsor alone– where Prince Harry and Megan Markle tied the knot – alone generating an expected 1.5 million pounds in extra sales.

According to the Centre for Retail, Prince Harry and Meghan Markle’s wedding is going to generate retail sales of an estimated four times the money spent on the wedding, that’s it approximately 120 million pounds worth of retail sales.

This total is made out of an estimated 30 million pounds of memorabilia sales (globally), 35 million on food and drink, 10 million of newspaper and book sales including souvenir issues and a whopping 45 million worth of fashion sales, the latter driven by Markle’s fashion fans.

Although the entire country is poised to benefit from the royal wedding, Windsor, where the celebration has taken place, will ripe the bulk of the benefits.

Mark Charlton, Head of UK Research at Colliers International, a global real estate adviser, comments: “Events such as the Royal wedding demonstrate that the high street and casual dining scene still play an important role in the economy. We predict that if 100,000 people descend on Windsor tomorrow for the Royal wedding, around 1.5 million pounds (based on an average 15 pounds per person spend) could be spent in the town by well-wishers buying food, drink and memorabilia. In addition to this, there will be further spend generated over the weekend period by hotel and Airbnb overnight and long weekend stays.”

 

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