Shropshire teddy maker's royal bears are a triumph - but Charlotte proves the bookies wrong

And it has also proved bookies in Shropshire wrong as they predicted Alice as the likely name.

Betting shops had Alice down as 6-4 favourite – but reported a late rush yesterday that pushed Charlotte into second favourite at 3-1.

A spokesman for Coral Bookmakers in Ketley, Telford, said that a lot of people put a bet on when they came in on Saturday night for the Mayweather/Pacquiao fight.

The Duke and Duchess of Cambridge probably won't want for much in the way of baby clothes – and there may be some royal hand-me-downs available.

But what do you buy for any new little princess in your own family or friendship group?

Staff at Shrewsbury childrenswear shop Pied Piper are full of suggestions and are expecting future trends to be dictated to by the new royal arrival.

The shop has been selling clothes for children for more than 40 years and is run by sisters, Caroline and Helen Francis.

Helen said what had proved popular for Prince George had also proved popular with their customers, with many parents eager to follow the royal trends.

She said: "I think whatever people see the baby dressed in they will want that.

"After Prince George was born the clothes that people saw him wearing were very popular."

Helen said that after Prince George's first public engagement people had been desperate to get their hands on the £45 fine merino shawl he was wrapped in, with the shop even shipping the shawls in from abroad for excited customers.

Helen said: "It is made of super fine merino wool which is very soft and because it is the shawl the prince was wrapped in, people were always after it and we have even had orders from America and New Zealand."

Helen said dungaree suits were also popular after the first royal birth, with an Emile and Rose creation at £39 selling well.

She added: "This is the kind of thing they have dressed Prince George in.

The chosen name – the feminine form of Charles – was released as gift firms looked to cash in on the royal birth.

Ironbridge-based Merrythought said it had already sold out of a limited edition teddy bear at £164.50 each.

Merrythought is the only British manufacturer of teddy bears and has manufactured two special lines – a limited edition commemorative bear and a royal baby celebration bear – to mark the princess's birth.

The commemorative bear, at £164.50, sold out within hours of the birth being announced. The royal baby celebration bear, which comes complete with a princess bib, costs £105.50, and is still availabale.

Staff say they have been inundated with inquiries about the bears, which royal collectors say are a good investment.

A company spokeswoman said: "We only made 200 of our commemorative edition bear and they have already sold out.

"But we still have another edition available, the royal baby celebration bear, which will remain on sale until the princess is one year old."

This year Merrythought, which still hand-makes all their bears, is this year celebrating its 85th anniversary. And

manufacturers across the world are leaping into action to mark the arrival of the new princess. Items range from a £5 coin created by the Royal Mint to potties and bibs proclaiming "I love Aunty Pippa".

Professor Joshua Bamfield, director of the Centre for Retail Research, suggested the royal baby will bring retail sales of around £60 million or £70 million. He said this is low compared with Prince George's birth, which boosted retail sales by around £247 million between July 1 and August 31, 2013 when £78 million was spent on souvenirs and toys.

"I think it will have an impact on the sales of Prosecco and champagne and cake but not much more than that," he said.

But he added that over the longer term the birth of the princess will impact on sales of girls' clothes and toys as people look to buy the same things.

Names of little princess are just perfect

Royal reporter Shirley Tart welcomes Princess Charlotte

Perfect! Charlotte Elizabeth Diana. . . it couldn't be better.

And as tiny Princess Charlotte of Cambridge makes her formal debut, as they so often do, this lovely young royal couple are not just doing things their way, but generally getting it right.

Why Charlotte someone asked me? Well, it could be an affectionate nod towards Grandad Charles, while Queen Charlotte, wife of King George lll, is an interesting historical royal ancestor of both German and African descent. Or maybe William and Catherine just like it.

Elizabeth. No surprise of course, in honour of a much loved great-grandmother, our Queen. And in this special year when in September Her Majesty passes the reign of her great-great grandmother Queen Victoria to become our longest serving monarch and then a few months later, will celebrate her 90th birthday, what better inspiration for a little girl born in another century but with this remarkable lady as her great-gran?

And then Diana. What can we say. It was almost a given that William would honour his mother's name in this way. He and Harry do much to keep and protect her memory and could there be any better way than giving her name to this latest, precious bundle who has brought more joy to the Royal Family.

Now, Princess Charlotte, suitably named, much loved and spending quiet time away from the cameras as she gets to know her new family, also begins her new journey which will be so different from the early worlds of Charlotte, Elizabeth and Diana whose names she now bears.