Queen’s Diamond Jubilee to spark spending spree on food, drink, celebrations and souvenirs

14:31 26 May 2012

The Queen

The Queen's Diamond Jubilee celebrations will spark a spending spree in Britain, including on souvenirs, it has been predicted

Celebrations for the Queen’s Diamond Jubilee are set to spark a spending spree, with people spending £40 on average on jubilee purchases.

That’s according to research from MoneySupermarket.com, which predicts Britons will spend £823 million celebrating over the long bank holiday weekend coming up.

An estimated 40 per cent of the population plan to celebrate the event in some way, with 44 per cent of women expecting to mark the occasion compared with 40 per cent of men, a poll for.

The survey found 21 per cent plan to buy extra food and snacks and 17 per cent will buy extra drinks, while seven per cent will buy decorations and eight peer cent will purchase souvenirs.

Of those planning to watch the celebrations, the most (25 per cent) will stay at home, eight per cent are expecting to party with family and friends and six per cent will attend a street party.

Four per cent will watch events from the pub and three per cent plan to travel to London.

The predicted spending of £823m compares to the £480m which 34 per cent said they planned to spend celebrating the royal wedding last year.

MoneySupermarket spokeswoman Clare Francis said: “Our research has shown the British public is gripped by jubilee fever.

“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.”

British Retail Consortium economist Richard Lim said: “After a battering from bad weather and household finances squeezed by low wage growth and high inflation, retailers are looking for a much-needed boost.

“The jubilee has the potential to create a feel-good factor that lifts consumer confidence and persuades people to put their concerns to one side, even if only temporarily.”

He added: “Perhaps most importantly, the extra bank holiday will give many people an extra day to shop for goods, whether they’re related to the occasion or not.

“The royal wedding played a part in making April 2011 the best month for retail sales growth last year. Retailers will be hoping for something at least as good this June.”

Are you planning to join in the Diamond Jubilee celebrations? What will you buy and how much will you spend? Post your comments below.

Sign up for our news alerts today!

Our editors' picks for the day's top news delivered to your inbox or phone.

Sign up for email alerts Sign up for mobile alerts
1
2 3 4 5 6
7

Latest London news

Monday, August 3, 2015
Travellers were ushered out of the station (Photo: Steven Gray @Frogo)

All passengers were evacuated from Baker Street Underground station this morning because of a fire alert.

Monday, August 3, 2015
This 15-year-old girl, Reneisha Brown, has been missing since July 31 (Picture: Met Police)

A 15-year-old girl, Reneisha Brown, was last seen in Bounds Green on July 31 and police have now launched an appeal to find her.

Monday, August 3, 2015
A 55-year-old man died while attempting to complete the  Prudential RideLondon 2015 (Picture: PA Images)

A Prudential RideLondon cyclist died on his bike while participating in the 25,000 strong event in London yesterday.

Sunday, August 2, 2015
Police are appealing for witnesses to the crash

A nine-year-old who suffered severe head injuries after being hit by a car in Barking is now fighting for his life in hospital.

Sunday, August 2, 2015
A woman, 35, was found with severe stab wounds before being pronounced dead at the Chelsea address

A woman died from stab wounds early this morning in Chelsea and police have launched a murder investigation.

What is this?

Near You Now

Don't Miss...

Competitions

Get your hands on some fresh trainers!

Need some new shoes to head to work or some new heels for a night on the cobbles? London24 has teamed up with online retailer Sole Trader to offer £100 worth of shoes to one lucky reader.

Read more
Take in the stunning sites of London from the summit of the O2!

Up at The O2 has teamed up with London24 to give one lucky reader the chance to experience urban mountaineering this summer with an exhilarating 90-minute climb across the roof of one of London’s most iconic landmarks.

Read more
Terrific tea, creamy cakes and splendid sandwiches at Mews of Mayfair.

Celebrate a truly quintessentially British tradition with the chance of winning a luxurious Afternoon Tea for two people at Mews of Mayfair, complete with a glass of Veuve Clicquot champagne.

Read more