The birth of the second royal baby will boost the UK economy by up to £70million, experts have predicted. The sales boost is just a fraction of the £247million that Prince George's birth brought in in July 2013 – however the second child of Prince William and the Duchess of Cambridge, née Kate Middleton, is expected to make more of an impact in the long term – particularly if it is a girl.
Professor Joshua Bamfield, director of the Centre for Retail Research, said: "It's not so much of a major event when you have another baby. I think it will have an impact on the sales of Prosecco and champagne and cake but not much more than that."
However the professor added that the baby, who is due "mid to late April", could have a more long-term effect on retail as outfits worn by the youngster and Kate will likely sell out in record time.
CLICK ON PHOTOS TO ENLARGE
Prince William and Kate's second child is expected to boost the UK economy
"When the baby has a certain sweater on, everybody will want to buy that. The impact of the baby is going to be the longer period – particularly if it's a girl – the equipment they use, her clothes, her toys."
As with every royal occasion, the baby's birth will be commemorated with a raft of collectable souvenirs and memorabilia. It has already been confirmed that the Royal Mint will release a new £5 coin to mark the occasion, while the Royal Collection Trust will create a selection of commemorative china.
Preparations are already being made at the exclusive Lindo Wing of St Mary's Hospital in Paddington where Kate is due to welcome her second child in the next two weeks. Towards the end of the week police will start erecting barriers outside the hospital, and press pens will be set up for the world's media who will be capturing the historic moment that the baby is seen for the first time.
Prince George boosted the economy by £247million in 2013
While Kate, 33, has previously revealed that she is due "mid-to-late April", sources and bookies are claiming that she will welcome her second child on the weekend of 25 and 26 April.
The new baby, who is widely tipped to be a girl, will become fourth-in-line to the throne, relegating Prince Harry to fifth place.