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Wednesday, April 20, 2011

Royal Wedding spending

The research consultancy, has calculated that an extra £620 million will be spent as a result of the Royal wedding, on memorabilia and party food, as consumers stock up for the four-day weekend.
British Retail Consortium, said: "With customers under pressure and retail sales falling dramatically, the wedding and the extra day off will give a useful boost to the national mood and to retail sales.
"Given the rising demands on household budgets, this survey shows a surprisingly strong willingness to spend on food, drink and memorabilia. And the extra shopping opportunity provided by the additional Bank Holiday will even help sales of things like DIY and garden goods, unrelated to the event."
Most retailers will remain open for the day, in the hope of picking up business from shoppers uninterested in the wedding, but enjoying the Bank Holiday. Two major retailers, however, have said that the rights of their staff to enjoy time off to watch the event trumped any desire for extra takings.
Marks & Spencer and John Lewis have said that nearly all their shops will be closed on Friday, April 29 until 1pm so staff can enjoy "the unique celebration".
We have a great team here and they all understand the commercial pressures that businesses face. I haven’t had any complaints about the decision. They all call me ‘Orribles’ anyway so there’s probably been a bit of banter about it but nothing I can’t take.

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