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Prince George's effect on the retail market
Nottingham's Centre for Retail Research projected that the royal baby would make US$373 million retail boom from July1 to August 31. CRR's director, Joshua Bamfield, stated that one of the largest factors would be the unintended royal brand endorsement.
The expected growth on the sales of high-class strollers was said to be one of the key sectors. "We expect sales of prams and pushchairs to rise by 13% [an increase of $50.7 million to a new total of $422 million] as new parents 'trade up' to more exclusive baby carriages, following a trend that is expected to be set by the royals," CRR remarked. "The baby carriage will become a must-have status."
The white christening shawl that Prince George wore when he leaft the hospital is also in soaring demand. G.H. Hurt & Son's spokesperson said, "The phone has been ringing off the hook and we have been taking more online orders than we have ever seen before. We had no idea that they were going to use it until we saw the television footage ourselves. We were dancing with joy."
Experts said that once the Duke and the Duchess take Prince George out for a walk, the Bugaboo stroller would be the best-selling unit on the market. Wal-Mart Store's supermarket chain in UK, Asda, reported 57% increase in sales of woven-straw bassinets for babies following the release of the Duchess' photo with the product. The Royal Collection Trust Shop, adjacent to Kensington Palace, was also expected to sell all of its memorabilia, sheepskin valuables, sleep suits, royal rompers and strollers soon.
"There is nothing bigger for a brand than a royal endorsement," Mintel's director of trends in London, Richard Cope, said.
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