The British Retail Consortium has predicted that the upcoming royal event will provide an uptick in retail sales.
James Hardiman, senior analyst at the BRC, commented: “Given the King’s Coronation will be such an historical event, we expect an even larger uptick in retail sales [than the Platinum Jubilee in 2022], with consumers flocking to purchase coronation related memorabilia, bunting, and food and drinks to celebrate the occasion.”
Myron Jobson, senior personal finance analyst at Interactive Investor said: “The King’s coronations celebration could give retail sales a much-needed shot in the arm amid the cost of living crisis – similar to last year’s Platinum Jubilee celebration.”
This comes on the back of consumer research showing that 11% of Brits are planning to host friends and family at home for the celebrations.
In 2022, the Platinum Jubilee provided a boost for the party industry and people visiting shops over the celebration weekend increased by over 17%.
