London retailers will be one of the major benefactors from the Royal Wedding with the New West End Company, representing 600 retailers on Bond Street, Oxford Street and Regent Street, releasing forecasts on the impact the Royal Wedding will have on West End stores.
Jace Tyrrell, New West End Company, comments, "With the hike in global interest in London set to peak this weekend, we anticipate that 500,000 additional shoppers will give retailers a £50million Royal Wedding boost. Despite some Londoners heading out of the Capital, the weekend falls after April payday, which we expect to fuel up to an 11% lift in shopper spend.
Retailers are telling us that they have ordered in additional stocks of Brit brands and products, picnicwear and Wedding memorabilia to meet the demand of the continuing 'halo honeymoon effect' of 10million shoppers expected in May."
NEW WEST END COMPANY'S WEDDING FORECASTS
The Wedding Weekend:
· 500,000 incoming shoppers are estimated to come into the West End over the four day weekend
- 250,000 will be international retail tourists
- 35% will come into London from the home counties and rest of the UK
· An anticipated dip in London-based shoppers,set to leave town to seek wedding refuge
· Despite retail staff being unable to line the streets to celebrate, the Royalist feeling in the West End will be celebrated by the 20,000 West End retail staff who will be dressed to impress, with many donning top hats and fascinators in the West End's first 'Wear a hat to work day' for one of the Royal Couple's charities - BeatBullying [pictured].
The 'May honeymoon:'
· An ongoing lift in consumer morale, stimulated by the Royal Wedding, with an anticipated four week 'halo honeymoon effect.' This honeymoon period will see a continued 5-10% sales uplift.
Global Tourism to London:
· Global interest in London is at an all-time peak, with inbound international tourists expected to increase by 15% this year. New West End Company will lead a delegation to Dubai and China throughout May to maximise this commercial opportunity.
Simon Burdess, Trading Director, Fortnum & Mason says, "We are very excited about The Royal Wedding. Sales of commemorative products, including our own range of china and food items have exceeded expectation in the run up to the big day. We are expecting to be very busy on the day and are opening the shop at 8am, 2 hours early, to facilitate the collection of pre ordered picnics and other takeaway foods. We are fully sold out for our Royal Wedding brunch, where guests are invited to dine and watch the proceedings in the comfort of our St James's restaurant. We will also be screening the event on our ground floor for customers who cannot make it to the processional route."
Michelle Dowdall, Spokesperson for Debenhams adds, "Royal Wedding memorabilia has been flying out of stores in recent weeks, with many lines selling out already in our Oxford Street flagship store. As visitors and tourists descend on London, there will no doubt still be huge demand for these items over the weekend.
"While people will want to watch the wedding, there will be a number of people that won't and it's about giving people a reason to come and shop with you. To help celebrate, we will be offering 20% off occasionwear, playing wedding songs in stores and encouraging staff to get into the wedding spirit by wearing hats and fascinators to work."
photo credit: New West End Company