The Jubilee has been the biggest event for retail in our lifetime, with retail houses taking advantage of the feel good factor that has been spreading round the country for the last few months. On the lead up to such an important date for the Queen and country alike, the retail scope has been seeking out any products or money making schemes to make the most of this, as for the first time since the recession people are deciding to treat themselves to a weekend of food, alcohol and merryment.
Tesco has already seen sales of 93,000 paper crowns and tiaras, 15,000 miles of bunting and 400,000 Jubilee mugs. The supermarket were also expecting to sell 2.86 million waving flags by the end of the weekend. Tesco Party Range Buyer Matt Compton said "This is the biggest week we have had since the Millenium in terms of party sales with demands far exceeding sales from last year's royal wedding".
With Brittons expected to spend over 823 million pounds celebrating the 60 year anniversary, it is not surprising the competition that is being felt by big retailers. After a long time waiting, retailers are finally finding that consumers are ready to put their concerns to one side for the week of celebrations.
After a challenging time for retail, even the luxury end was crying out for a boost in sales, with retailers on Oxford Street cashing in on the festivities. Harrods replaced their famous green canopies for ornate gold frames, and sold a massive range of products that emulated our celebrations, with best sellers including jubilee mugs and tote bags.
Selfridges also joined in on the action, with a roof top garden featuring a 9 hole mini golf course, carpeted plastic grass, plush blankets and ornate teacups and saucers, ensuring they are in full Britannia mode for the celebrations.
After a tough few years in UK retail, could the Jubilee be the turning point? Or just a towel over our eyes until after the four day weekend, when consumers tighten their belts even more after a spending spree for the festivities? Only time will tell.