Birth of Britain`s New Little Prince Prompts Celebratory Spending
Baku, July 25 (AZERTAC). First comes love, then comes marriage, then comes a whole slew of wacky and tacky souvenirs — that is, at least when it comes to the birth of Great Britain`s newest little prince.
The wedding of Wills and Kate two years ago was a boon for businesses of all types: People visited London, raised celebratory pints in its pubs, and spent profligately on a huge variety of souvenirs and tchotchkes emblazoned with the royal mugs. There were actual mugs, plates, and other dishes, along with beer bottles and even condoms (yup, really) bearing the newlyweds` likenesses. The British Retail Consortium estimated that people spent a collective Ј480 million ($737 million) celebrating the royal nuptials.
Now, there`s a similar commercial feeding frenzy under way, and no item is too weird to get the “Baby Cambridge” treatment. Along with stuff you might expect like paper dolls, pacifiers, onesies, bibs, and enough dishware to fill a kitchen cabinet, there are some less-traditional offerings like bottled juice, iPhone covers, and a slew of frosted desserts. Today, Unilever began selling commemorative, gold-trimmed containers of laundry detergent and fabric softener. Vying for this round`s title of “grossest memento” are themed barf bags.
The Centre for Retail Research says people will spend Ј243 million ($373 million) in connection with the royal birth. That total includes $133 million on celebrations (including $95 million just on booze), $123 million on toys and souvenirs, and $117 million on books and other media.
Along with upwardly mobile parents, tourists, and bettors will probably add to the bonanza. PricewaterhouseCoopers said Britons who visited London for the royal wedding spent $164 million, and the local media documented a surge in visitors flocking to the city in anticipation of the big event.
Those like to gamble were able to make bets on whether “Baby Cambridge” would be a boy or a girl and what the new parents would name him or her (a girl named Alexandra was the odd-on favorite, according to British betting company Coral — so plenty of bettors lost money there). Some people were even laying wagers on how much the baby would weigh. “It is the biggest novelty market we have ever seen,” a Coral spokesman told media outlet AFP. A week ago, even before Babymania reached its peak, the betting market was up to around $1.5 million.
People will spend $86 million on 14 million royal birth souvenirs, the Centre for Retail Research says, and a lot of that stuff is being bought by Americans. The group says foreigners will spend $57 million on commemorative items.
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