The Royal Collection Foundation’s latest product in its online store has aroused heated discussions, and a pair of socks can cost as much as 69 pounds. According to media reports, the royal family may wish to sell socks to make up for the financial losses suffered during the epidemic.
According to Daily Mail, the British royal family suffered a considerable financial crisis during the epidemic. Its income this fiscal year is expected to decrease by 64 million pounds. This has made the British royal family also have to become an “e-commerce”. Although the socks, which are priced at 69 pounds, are exquisite in craft, netizens said that the price is too high, thinking that a pair of woollen socks is not worth the price.
Since the outbreak of the epidemic, the British royal palace has long been closed to the public, and the online shop has become the only place where tourists can buy royal souvenirs.
As early as July 2020, the Royal Collection Foundation launched a small batch of gin (made from laurel and mulberry leaves in the backyard of Buckingham Palace where the Queen lives) and sold each bottle in its store. The price is £40.
It is reported that during the lockdown of the epidemic, the British royal family lost millions of tourists due to the closure of the palace, creating a funding gap of nearly 18 million pounds. The royal family offered 250 employees a voluntary buyout plan.
The Royal Collection Foundation said that all profits from the sale of gin go to the fund.
With the spread of the epidemic, the British economy is also facing the risk of recession. Under the impact of the epidemic last year, British retailers were hit hardest. According to LDC and PricewaterhouseCoopers‘ data, in the first half of 2020, the number of closed stores in the UK reached a record 11,120.
In the first half of 2019, only 3509 stores were closed, almost three times the number. The latest survey by Begbies Traynor Group shows that nearly 40,000 online and physical store retailers are currently in “serious financial distress.” Since the same period in 2019, this number has risen by 24% as retailers struggle to deal with the epidemic’s escalating impact.