How the effect of Meghan Markle's fashion sense may move the market

Key Points
  • Meghan Markle's personal style has inspired fashion blogs and helped move the market.
  • Fashionistas and industry experts are calling it the "Meghan effect."
  • "Anything she's worn sells out within hours," said Josh Duboff, a senior writer for Vanity Fair.
Britain's Prince Harry poses with Meghan Markle in the Sunken Garden of Kensington Palace, London, Britain, November 27, 2017.
Toby Melville | Reuters

It seems as if everyone wants to know what Meghan Markle is wearing.

The 36-year-old American actress, who's set to marry Britian's Prince Harry on Saturday, has quickly morphed into a fashion icon. Nowadays, almost every time a photographer snaps a photo of her, the outfit she's wearing sells out, according to one observer.

Fashionistas have dubbed it the "Meghan effect."

"We've seen it again and again; anything she's worn sells out within hours," Josh Duboff, senior writer for Vanity Fair covering entertainment and culture, told CNBC.

"Brands have noted kind of immediate effects in terms of the influence she has, in terms of her bags, her clothes, her fashion, sunglasses she wears," Duboff told "Power Lunch" on Friday.

Stores "can't keep them in stock," he added.

The effect of the latest addition to the royal family is considerable. Brand Finance, a consultancy firm, estimates the royal wedding will boost the British economy by about one billion euros, or near $1.2 billion at Friday's exchange rates. Markle's fashion choices alone are expected to generate about $212 million in retail and apparel sales, the firm noted.

A camel-colored collar wrap, originally priced at $1,395, was worn by Markle on Christmas. Sentaler, the Canadian luxury outerwear brand, confirmed in an email to CNBC that the jacket "sold out instantly," after the actress appeared in photographs alongside her prince.

Meghan Markle and Prince Harry attend Christmas Day Church service at Church of St Mary Magdalene on December 25, 2017 in King's Lynn, England.
Getty Images

The actress also sported Strathberry handbags on two separate occasions. The Edinburgh-based label also confirmed that the bags sold out both times after she was seen carrying them.

While also in Ireland, Markle wore a coat by the Canadian company Mackage. The image of her garnered 1.6 billion media impressions in 24 hours, according to Women's Wear Daily.

Prince Harry and Meghan Markle
Chris Jackson | Getty Images

Jim Fallon, editorial director at WWD, said social media has definitely contributed to Markle's allure.

"When [Prince] William and Kate [Middleton] were married, Instagram was barely six months old," Fallon said on "Power Lunch" Friday.

And, Fallon pointed out, Markle is no stranger to the limelight.

"She's an actress," he said. "She knows how to wear the clothes."

WATCH: Royal wedding's $1 billion boost

Royal wedding's $1 billion boost

Reuters contributed to this article.