Retailers across the UK are preparing for a surge in sales thanks to the “Meghan effect” following the announcement of Prince Harry and Meghan Markle’s engagement last week.
In 2015, sales off the back of the Duchess of Cambridge’s “informal endorsements” are thought to have topped £150 million, and the retail industry is expecting sales of Markle’s endorsements to perform even better.
Prior to the announcement of the upcoming royal wedding next spring, British eyewear brand Finlay & Co sold £20,000 worth of glasses in 24 hours after Markle was photographed wearing them alongside Prince Harry at the Invictus Games in Canada.
Similarly, searches for black Hunter wellington boots jumped 18 per cent globally and 30 per cent in the US after Markle was photographed wearing them in February, according to Lyst.
Canadian designer Line the Label also renamed its £460 white coat “Meghan” after the princess-to-be was photographed wearing it on Monday.
The coat sold out within minutes and the boost in interest crashed the brand’s website.
The build-up to the royal wedding is also set to see an influx of tourists to the UK, good news for shops fearing a footfall decline off the back of Brexit.
“We anticipate that 600,000 additional shoppers will give retailers a £60m royal wedding boost,” New West End Company chief executive Jace Tyrrell said.
“There will be huge demand for wedding memorabilia in the run-up to the big day and retailers, hotels and restaurants will be planning commemorative products and special experiences for their visitors,” he added.
Click here to sign up to Retail Gazette’s free daily email newsletter
