![]() The ceremony will take place in Westminster Abbey on May 6. Last year, grocery sales through the week to June 5 - the period that included celebrations for the late Queen Elizabeth’s Platinum Jubilee - were £87 million ($108.7 million) higher compared with the average week in 2022, according to Kantar data.Īs in June, UK retailers have come up with a vast array of mementos to mark Britain’s first coronation in 70 years - from commemorative biscuit tins, teddy bears and tote bags to candles, cushions and teacups. ![]() “Given the King’s coronation will be such a historical event, we expect an even larger uptick.” “Retail sales are usually boosted by large national events,” said James Hardiman, a senior analyst at the British Retail Consortium. ![]() UK gross domestic product is expected to shrink by 0.3% this year, logging the worst performance of any major developed economy, according to the International Monetary Fund. The historic event could help give an instant lift to sentiment and spending in an economy beset by strikes, stubbornly high inflation and falling living standards. But the UK economy as a whole could suffer as workers take an extra day’s holiday. ![]() Britain’s pubs, restaurants and retailers are gearing up for a roaring trade from celebrations to mark the coronation of King Charles III. ![]()
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