We’ve previously looked at Queen Elizabeth as a brand and business ahead of becoming the UK’s longest-reigning monarch on 9 September – a date that will mark her power extending for almost 64 years.
Her impact on UK retail was previously documented following the Diamond Jubilee boosting sales by £508.9m.
More recently, Prince George served as an inspiration for two friends to launch personalised baby brand My1stYears.com – despite having no knowledge of children – which is now a multi-million pound business.And with the Duchess of Cambridge set to give birth any day now, retailers and marketing experts believe the arrival of a baby princess will generate more revenue than another boy, while the name is said to be of key importance.
Victoria Hampson, founder of baby product store NaturalBabyShower.co.uk, said: “The baby girl market is much bigger than that of the baby boy market, so naturally a new princess would be a real boost.”
The company experienced a large spike in demand after Prince George was photographed in one of its swaddles when leaving hospital.
The Duke and Duchess of Cambridge with Prince George arrive in Wellington #RoyalvisitNZ pic.twitter.com/rrCgNCtTS2 — Clarence House (@ClarenceHouse) April 7, 2014
“We’ve all see the power both Kate and now George have when it comes to shifting stock. They only have to be seen wearing something once and the item, and those similar to it, goes almost immediately out of stock,” Hampson continued.
“Having Prince George wear one of your products is the Holy Grail for all babywear retailers. Not only do you see sales go through the roof, it is a public endorsement from arguably the most important baby in the world.”
Elsewhere, the London School of Marketing has said a princess will generate more revenue than her big brother, who generated £390m for British business, which came to be known by the babywear industry as the Prince George effect.
Revenue was generated with spends including £150m for advertising, £80m on souvenirs and toys, and £70m on books, DVDs and media sales. The school believes the new royal baby will result in a minimum of £300m revenue for the economy.
The latest photos of Prince George for you! Our little Prince is pictured sitting on the steps of Kensington Palace. pic.twitter.com/kWkj9aAtTz — Clarence House (@ClarenceHouse) December 13, 2014“Whatever your views on the monarchy, it is hard to deny that the Royals have a massive positive impact on the economy,” said Anton Dominique, CMO at the London School of Marketing.
“Our estimates show that in the Jubilee year of 2012, the ‘Windsor Brand’ generated £26bn for the UK economy with £520 million purely from the Jubilee itself. Major royal events can generate anything between £250m-£600m and the birth of the new royal baby will be no exception.
“Nostalgia is a very powerful tool in marketing and a new Princess Elizabeth or Princess Diana would, at least in marketing and advertising terms, significantly outshine her older brother.”
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