Retailers will receive a £80m spending boost from the birth of Princess Charlotte as consumers splash out on souvenirs, food and drink.  

Fortnum & Mason royal baby champagne

The Centre for Retail Research forecasts most of the spend will be on drink, but will be significantly less than the £247m it estimated was spent celebrating of the birth Prince George two years ago.

It is believed this time consumers will spend £28m on drink, £27m on souvenirs and £25m on food.

The centre’s research found around 15% of consumers questioned expected to mark the birth in some way. For example, by buying a souvenir or throwing a celebratory event.

Professor Joshua Bamfield, the centre’s director, believes that because the new baby is a girl the longer-term implications for the UK babywear, childrenswear, teens and fashion business could be worth £150m a year.

That is because what new baby wears will be studied and emulated by parents all over the world, but is reliant on “British designers rising to the opportunity”.