KING Charles’ coronation in May is set to boost the British economy by £1.4m with Brits and an influx of tourists stocking up nights out, street parties and buying memorabilia.
The Centre for Retail Research predicts that once in a lifetime event on May 6 will boost UK consumer spending by £1.4 million pounds ($1.7 million).
The official Royal Collection shops only released their coronation collection on Friday, and by Wednesday they were sold out online.
Consumers went mad for English fine bone china coronation coffee mugs and tankards, as well as a coronation biscuit tin. Dessert plates, tea towels, crystal glasses and socks were still available.
The demand for our Coronation Lewis Bear has been extraordinary,” said Jason Billings-Cray, a seasonal buyer for John Lewis. “We’re seeing a real buzz from customers who are looking forward to celebrating the occasion.”
Shops across the UK are selling a wide range of royal-themed party decorations, including miles and miles of bunting and flags that feature the king’s head on environmentally friendly card stock — perhaps a nod to Britain’s first eco-king.
ASDA is encouraging shoppers to “add a royal touch” to outdoor spaces with decorative plastic king and queen garden gnomes.
Customers up and down the U.K. and internationally — including Canada, the U.S. and even Australia — are buying for garden parties, street parties, house parties, work events, schools and shop windows,” director Lucy Thompson said, noting there was also a “huge amount” of interest in life-size King Charles cardboard cutouts available from Argos.
