He's here! He's here! He's here! Kate and Wills' little bundle of royal joy arrived yesterday afternoon--and enterprising companies certainly aren't wasting any time cashing in on the excitement.
The dude doesn't even have a name yet--but he's already inspired a major merchandise craze--and been a helfpul boon to the UK economy. The Center for Retail Research in Nottingham, England, estimates that Brits will spend around £243 million on Royal Baby-related products and services. £87 million is expected to be spent on festivities--£62 million of that on alcohol. The Center estimates that Brits will be popping three million bottles of champagne to celebrate.
£80 million is expected to be spent on souvenirs and toys, and £40 million on books, DVDs and other media commemorating the event. It's nice to know these exact figures but really, all we'd have to do is glance at our inbox to know that retailers are banking (quite literally) on royal baby related sales. The releases we've received have ranged from the classy (an HRH Cire Trudon candle) to the random (a royal baby themed nail polish collection from Butter) to the strange (a Cameo by RUX rattle carved with Kate and Wills' profiles).
But that's just the tip of the iceberg. Harrod's has released a collection of Royal Baby-themed souvenirs; a company called Gdiapers has created a purple velvet diaper cover; Emma Bridgwater is shilling mugs; Milly Green is doing a full children's table set; this online retailer released a bunch of bibs. The Royal Baby has also proved lucrative fodder for children's book writers: There's Shh Don't Wake the Royal Baby, The Royal Baby and The Royal Nappy.
According to the Center for Retail Research, the birth is expected to boost sales of all baby-related products--not just ones branded with 'HRH' or 'Royal Baby.' We don't know what to make of this exactly--that new moms will be inspired to spend more on their baby than normal, because of the Royals? That consumers simply have baby on the brain, and will be more likely to spend on gifts for their own baby or others? The Center estimates that sales of strollers and baby carriages will increase by 13%. "The baby carriage will become a must-have status symbol and the lucky manufacturer [of the Royal baby carriage] can expect a boost in sales."
"Similar gains are expected to be made by the manufacturers of the baby's clothes, its crib, its toys and any product associated with the baby or its parents," the report continues.
Indeed many companies, who are neither associated with the Royals nor producing any specifically Royal-branded products--like Jonathan Adler, Ancient Greek Sandals and T.J Maxx--have sent out press releases encouraging shoppers to peruse their baby collections as a way to celebrate the birth of the Royal Baby. We guess there's just something about a new British heir that makes everyone want to shop...
Check out some of the Royal Baby products on offer: