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PwC predicts spending boost on royal memorabilia this weekend as country gears up for Jubilee festivities

01 Jun 2022

Lisa Hooker, Industry Leader for Consumer Markets at PwC, said:

"Despite the significant drop in consumer confidence shown by our most recent Consumer Sentiment Survey, a difficult couple of years combined with the feel good factor of celebrating with family and friends could see positive results for grocers leading up to and across the Platinum Jubilee weekend. This would be welcomed, given the decline in grocery sales volume seen throughout this year so far. 

"Not everybody has the option to celebrate at home or in their local neighbourhoods, so the long weekend celebrations could also help restaurants and bars, which have seen a slowdown in spending in recent weeks. ONS figures released last week referenced a 3% dip in weekly spending and 2% less restaurant bookings in the week leading to 22 May, so hospitality operators will be hoping the national celebrations can boost footfall.

"Additionally, we are seeing spending on investment pieces, which in turn should help collectible sales. This reflects a multitude of factors. Some consumers might be looking to invest savings into memorabilia and additionally, celebratory products which are local, ethical, environmentally-friendly and built to last could take the preference of more conscious consumers."

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