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Booze, burgers and bunting – UK supermarkets get Platinum Jubilee boost -Breaking

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© Reuters. FILE PHOTO : Stony Stratford, decorated in Union Jack flags & bunting in advance of celebrations for Queen’s Platinum Jubilee. REUTERS/Andrew Couldridge/File photo

LONDON, (Reuters) – British supermarket chains are expected to see a temporary boost in trade. This will allow Britons to forget about their worries over the cost of living for a while and get ready to mark Queen Elizabeth’s Platinum Jubilee by hosting street parties and barbecues.

Due to Friday’s public holiday on June 2, and Thursday’s Friday 3rd, and the forecast for good weather, there will be a lot of demand for soft drinks, alcohol and barbecue foods, as well as ingredients for desserts.

Kantar, a market researcher in London, stated that supermarkets in Britain saw an increase of 10% in sales during the celebrations of the Queen’s Diamond Jubilee.

Fraser McKevitt of Kantar’s retail and consumer insight said that “we should not underestimate the appetite for parties, especially royal ones.”

Steve Rowe, outgoing chief executive of Marks & Spencer (OTC:), said last week its customer research had shown that at least 40% of the UK population planned to have a street party.

He said that these things often come together quickly at the end of time… We look forward to a great celebration with her Majesty.”

Sainsbury’s, Britain’s No. The No. 2 supermarket chain in Britain, Sainsbury’s, predicted a minimum 30% rise in store cupboard staples (eggs, flour) in the week preceding the Jubilee bank holiday weekend. This is compared to a typical week.

Waitrose supermarket, an upmarket retailer, stated Friday that sales for savoury and rose pastries were up by 14% year over year.

According to the report, Dubonnet sales, which is the favourite tipple of Queen Elizabeth, increased by 50% over last year.

The Jubilee spending will not provide a significant boost in trade, but it is unlikely to last.

Britons are experiencing a decrease in their disposable income. Inflation reached a record high of 9% (a 40% increase) in April, and is projected to climb further.

Last week, the government announced that a $15 billion ($19 billion) support package was available to households who are struggling with rising energy costs.

Market leader Tesco (OTC) and Sainsbury’s warned last month of lower profits for the year.

($1 = 0.7912 pounds)

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