UK retailers will see a boost of £1.76bn over King Charles’ Coronation weekend (6 – 8 May), as consumers stock up on street party essentials, according to new research.
The King Charles III Coronation Report, from VoucherCodes.co.uk, reveals that UK consumers are expected to spend £1.17bn on food and drink over the weekend, with 18.6 million people set to make a purchase from supermarkets, convenience stores, and corner shops.
A further 6.1m people are expected to purchase decorations over the weekend (£0.28bn), and 4.2m consumers will buy memorabilia or souvenirs, such as commemorative mugs and plates (£0.13bn). Another £0.18bn will be spent on other Coronation essentials by 2.7m revellers.
The news comes as the British economy is forecast to see a boost of £8.01bn over the Coronation weekend, with consumers spending £3.22bn more than a typical May bank holiday (£4.80bn).
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