Britons will spend £823million celebrating Jubilee... that's a lot of Pimms
- 40% plan to celebrate the event in some way
- Each person will spend an average of £40 on Jubilee-related purchases
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An estimated 40 per cent of the population plans to celebrate the event in some way, with 44 per cent of women expecting to mark the day compared with 40 per cent of men.
Those celebrating expect to spend an average of £40 per person on Jubilee-related purchases, a poll for MoneySupermarket.com found.
Party time: Britons will spend £823million celebrating the Queen's Diamond Jubilee, figures suggest
The survey found 21 per cent plan to buy extra food and snacks and 17 per cent will buy extra drinks, while 7 per cent will buy decorations and 8 per cent will purchase souvenirs.
Of those planning to watch the celebrations, 25 per cent will stay at home, 8 per cent are expecting to party with family and friends and 6 per cent will attend a street party.
Some 4 per cent will watch events from the pub and 3 per cent plan to travel to London.
The predicted spending of £823million compares to the £480million 34 per cent of Britons said they planned to spend celebrating the Royal wedding last year.
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.
Covent Garden: The predicted spending of £823million compares to the £480million 34 per cent of Britons said they planned to spend celebrating the Royal wedding last year
'It will certainly generate substantial sales of souvenir items and food and drink for parties and family events.
'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.'
MoneySupermarket spokeswoman Clare Francis said: '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 monarch.
'While it can be tempting to splash out on celebrating such a big event, you should still make sure you’re making the most of your money and not paying a queen’s ransom.
'Comparing prices online and planning ahead are crucial if you want to have the best value celebrations.'
Read more: http://www.dailymail.co.uk/news/article-2150162/Britons-spend-823million-celebrating-Jubilee--thats-lot-Pimms.html#ixzz1vxtJxmQa