Great Britain’s Prince William and his wife, Kate, the Duchess of Cambridge, are due to have a baby in mid-July. This is good news for economies around the world—and for smart entrepreneurs. Earlier this month the Associated Press released an article headlined, “Royal baby to give bounce to British economy.” And the Centre for Retail Research (CRR) released a study predicting the new little prince or princess will “inject $375.7 million” (or 240 million British pounds) into the economy in Great Britain.
But the royal bounty is not likely to be confined to British shores. The folks at Alibaba.com think this “baby fever” is going to spread—globally, and particularly here in the United States. I have to agree—we Americans are suckers for anything baby and anything British, particularly when it comes to the Royal Family.
Obviously, official Royal Baby items will sell well, but that’s not exactly going to boost your bottom line. What can, though, is selling Royal Baby-related items. For instance, if the baby is a girl, you can bet baby-sized tiaras will become popular, not only as baby shower gift items, but also as part of American babies’ wardrobes.
The Duchess of Cambridge has already become a fashion icon, so you know millions will want to dress their kids like Kate does. If you’re in the children’s clothing or accessories business, you’d do well to pay attention to what the royal baby wears, eats, reads and plays with for many years to come.
Rieva Lesonsky is CEO of GrowBiz Media, a media and custom content company focusing on small business and entrepreneurship. Email Rieva at email@example.com, follow her on Google+ and Twitter.com/Rieva and visit her website, SmallBizDaily.com, to get the scoop on business trends and sign up for Rieva’s free TrendCast reports.