See a gallery of royal memorabilia in honour of William and Kate's babyExperts have predicted that the royal baby will provide a massive boost to the UK economy. To celebrate the arrival of pregnant Kate Middleton and Prince William's baby, Britons are expected to spend a staggering £243 million on champagne, memorabilia and food for parties.Almost a third of this figure will be spent on raising a toast to the newborn. The research, carried out by the Centre for Retail Research, predicts that three million bottles of Champagne and sparkling wine will be consumed.
Food will also be an important part of the celebrations as people organise small scale barbecues and gatherings, bringing food retailers an additional £25 million in the eight week period around the birth.
Tradition dictates that every royal occasion is greeted with a raft of collectable souvenirs and memorabilia. These nostalgic memories are set to cost a total of £56 million. In addition, toys will be high on the shopping list, making retailers a further £24 million.
Money spent on books, DVDs and media is expected to total £76 million.
This effect has already been seen – following the Beckhams' purchase of the iCandy Peach in July 2011, sales almost tripled from £3.6 million in 2009 to £9.6 million in 2011.The Buckingham Palace shop has also promised an official range to celebrate the birth.
The pram is an item set to rocket thanks to the new arrival, with sales of pushchairs and prams expected to increase by 13 per cent in the next year.
Many brands have already launched products to mark the birth of the future monarch, with Mothercare recently announcing a new range of romper suits and baby grows. The chain is also planning to launch a pram in the design of a royal horse-drawn carriage.