Jubilee: Britons Set For Big Spending Spree
Britons are expected to spend more than £800m celebrating the Queen's Jubilee, according to new research.
The figures is almost twice as much as the country spent during last year's Royal wedding festivities, said moneysupermarket.com.
The online price comparison site survey estimates that people celebrating next week's event plan to spend an average of £40 on Jubilee-related items.
"Our research has shown the British public is gripped by Jubilee fever with almost half of us keen to mark the 60th anniversary of the country's longest reigning monarch," said Clare Francis from the website.
"With an extra day off work for most, it makes sense that people want to mark the occasion with a celebration of their own and that many plan to buy a keepsake."
The findings are in stark contrast to warnings from senior economists that the extra bank holiday will have a negative effect on the British economy.
"The greatest areas of disruption may be in areas like manufacturing because you might have at that time more extended shutdowns at plants," said Ross Walker, chief economist for Royal Bank of Scotland.
"You may get disruptions to the supply chain which could hit production industries more than other sectors so manufacturing seems particularly vulnerable but I think it will be quite broad-based."
But some manufacturers are rubbing their hands with glee as the Jubilee creates a surge in orders.
The Emma Bridgewater pottery at Stoke-on-Trent is set to double its predicted sales - with £1.5m worth of commemorative products.
Demand has far outstripped Royal wedding sales with major retailers increasing orders up to sevenfold.
The company expects to make more than 200,000 pieces of Diamond Jubilee ware.
One item - a crown-shaped dish with lid priced at £100 - was predicted to sell 300 and more than a thousand have already been sold.
Co-owner Matthew Rice said: "We have never seen demand such as this. When people are happy, they spend money. When people are sad they don't. It's as simple as that.
"These are happy, brilliant events and they will stimulate trade. It's good for the country - as is a day off."
He has harsh words to those who say the Jubilee is bad for business.
"I think 'bah humbug!' is the phrase for that. Get a grip! Shut the doors! Get out and have a good time. If you are so sold on your business that you can't enjoy a few days of bank holiday, then something has gone very wrong with your life," he said.
North Yorkshire flag making firm 'Flying Colours' agrees. Owner Andy Ormrod said the firm had received orders for Union flags from ex-pats in Australia, Europe, America and it started snowballing from there.
"Since January it has just been amazing. The orders are coming from British business, Councils, corporations, theme parks... You name it."
Analysts will have to wait until the economic figures are out for the second quarter for an accurate reflection of the Jubilee effect.
what do you think?
Why are some people so negative, I for one will be celebrating, Wont be spending fourty pounds on mementoes,, but will have a mug, and attending parties
Is that your party face. :)
Steven John Beerling
I will be working :(
Mugs buying Mugs !
true, but I am happy!!!
Linda, you look happy.
I shall be working on day shift, but as a lot of people have to work saturdays and sundays, I think just for once they should be allowed to have one or two days off. There is more to life than money and the greedy bosses should stop complaining. You should really pay your staff double money for working sundays as it is supposed to be a day of rest.
"You should really pay your staff double money for working sundays as it is supposed to be a day of rest." that depends on your faith - if not religious it has no significance
Actually Michael , the phrase, "a day of rest" has no religious meaning at all. You are getting confused with the "Sabbath" day. So a day of rest doesn,t depend on your faith. I am basically an Atheist. If i am asked to work a Sunday , it would be at premium rates, because it is my day off.
I am in the other half spending nothing. Only buying essentials till VAT back to 15%
Vat should be ZERO!
I thought 15% was optimistic.
Actually I think I might buy a mug, I could put it with the coronation mug that has sat in the cupboard for 60 years.
I shall buy an extra pint of milk and a pasty, Then go sailing for some peace and quite
Quite what? Do you mean quiet by any chance?
David I never have and never will apologies to idiots who wish to highlight my use of the wrong word I like 10% of the population suffer from Dyslexia
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I wont spend a penny on any of the tat and I wont be celebrating. I will be working and I'm not bothered.
Windows Live User
Make sure you dont buy anything made in a foreign land!! Buy British
Keiron Michael John Hopkins
I probably wont be celebrating, but a few extra pints and maybe a day out will be on the cards.
Let's get one thing right, Elizabeth II is NOT YET the longest reigning British monarch. That was Victoria.
Actually the longest reigning monarch of Great Britain was George III. But as it states wrongly above, QE2, is not the longest reigning monarch of "this country". The longest reigning UK monarch is indeed Queen Victoria. There are subtle differences, of which both of you fell foul.Typical of orange, i must say.Poor journalism, on a regular basis.
queen victoria's 60 years was 1897 think she died 1901
I probably won't be working but i certainly won't be buying any tat or celebrating. I will celebrate when th monarchy is no more!
"Our research has shown the British public is gripped by Jubilee fever with almost half of us keen to mark the 60th anniversary of the country's longest reigning monarch," said Clare Francis from the website. what research would that be then, i dont know of anyone that gives a ....... about this jubilee nonsense. the royal family are leeches, and nothing to be proud off. the queen giving her speech the other week about Austerity whilst wearing a crown worth millions. Also if you go back through the royal familys anstestors, you will realise that what they have was gained through out the centurys through theft and other peoples lands and they have a lot of blood on their hands and yet some people look up to these people and celebrate them.
I agree Jade. Certainly where I live there are no buntings and there are no parties organised It was like that last year for the wedding. Nobody round here bothered they were all out mowing their lawns.
And how many hundeds of years will it take for that bit of plastic keepsake to become valuable? Another excuse to get the sheeple spending, and there's only one winner in all of this.
NOT MANY HAVE GOT THE MONEY OR DESIRE
PR spin to make it.look better. I don't mind the nonsense but won't be spending any money on it and will be avoiding anything to do with it. No body I know is wasting any money on it.
I tend to agree with most of the comments on here. I won't b e spending on the Jubilee celebrations but it will of course be reported by the media including the BBC as a huge success.
I cringe when I see the fawning lickspittles and forelock touchers making a big deal out of this nonsense. The sooner we are a republic the better. This german woman and her brood mean nothing to me but if the supporters of this fiasco wish to prostrate themselves before her, then they show themselves to be the sheep that I think they are.
Yes you to can show how british you are by spending around £40 on Jubilee-related items................. Made in china
Not much austerity from the Windsor-Mountbatten-Battenburg-Saxe-Coburg-Gotha family is there? We are all in this together are we?
buying what? made in china rubbish, making the chinese rich and in work..