The royal wedding is set to boost UK retail sales by an estimated £195.5m over the next four months, an uplift of 0.2%, with footfall set to increase by an average of 0.3% by the end of August.
UK retailers are set to receive an estimated £93.1m in May, with a further £102.4m to be spent over June, July and August as a result of “Royal Wedding Fever”, Springboard reports.
Sales of non-food items, which includes fashion, will reach £48.9m as a result of the much talked about ‘Meghan effect’.
However, Springboard predicts that this increase will be around a quarter of that forecast for the previous royal wedding, which it said is partly due to the poorer trading conditions.
Springboard Insights Director Diane Wehrle said: “Over the period of the Royal Wedding of the Duke and Duchess of Cambridge footfall increased by 5% in the week of the wedding, and then by an average of 0.9% over the three months following, as shoppers’ spirits were lifted and their purse strings loosened.”