David McCorquodale, UK head of retail at KPMG, comments on the impact on retail sales following the birth of Princess Charlotte Elizabeth Diana
“The arrival Princess Charlotte Elizabeth Diana has generated huge interest over the past few months - tea cakes and tea towels to the fore – and there’s no doubt retailers will look to join in the celebrations and share in the joy.
“The birth of Prince George in July 2013 gave consumers that much needed feel good factor to encourage spending and led to a golden month for retail sales. Sales of food and drink soared around 5-6% during that time as consumers popped open the bubbly and held barbecues to herald the royal birth. However, sales were also given an extra boost with the first British Wimbledon champion for three quarters of a century and the glorious summer sunshine which added to the feel good factor. Princess Charlotte’s birth will certainly encourage consumers to mark the momentous occasion in style but with additional factors boosting spending back in 2013, the uplift is likely to be less significant this time around.”
Jess Liebmann, KPMG Corporate Communications
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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.