Friday, April 29, 2011

The Royal economy.

3 billion – Estimated TV audience (40% of the world’s population!)

327 million – Estimated number of Royal wedding related photos to be taken on digital cameras!

26 million – Estimated sales in £s of Royal wedding merchandise

5 million – Estimated cost in £s of policing the Royal wedding

1.1 million – Number of people estimated to be visiting the capital

1,900 – Guests invited to the ceremony

They call it the wedding of the century. OR a fairy tale wedding. Hang on, didn't they say that about Princess Di's wedding? Look what happened to the fairy tale. They should give this royal couple a different spin instead. Like 'fresh hope' or something :P

This wedding is pure economics and a great opportunity to rebrand the royal British family (especially after years of bad press and London's current lacklustre economy). If you really think about it, it is an awesome PR campaign for British tourism as they prepare to host approximately 600,000 tourists arrival for this event that will add approximately 30 to 50 million pounds to London's economy. And imagine the mileage that will go on and on and on after that. The trinkets, the memorabilia, the many times you hear *kaching!* because of this royal wedding. It is estimated that 20,000 people will pay 300 pounds upwards just to get a glimpse of the couple. Kaching! Kaching! Kaching!

It's amazes me to see the brand power of one royal family. While laymen are willing to 'buy' into this marketing frenzy, what exactly is the brand promise? Forgive my nonchalance, but I might have missed it. The camera flash must have blinded me.

*Stats from here and here.

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