Monday, January 20, 2014

The Value of Dated Merchandise

When I am talking to my customers about product diversity, I notice that many are afraid to incorporate dated merchandise into their main product line.  It is understandable; no one wants to be stuck with pallets of last year's product.  It shouldn't be the only thing you offer to your customers, but if you are not offering dated merchandise you may be missing out on a large segment of buyers and the opportunity to get people talking about your brand.

When you offer new items year after year, you can create collectors. Suddenly, people who may have already been excited about you - your park, your event, or your brand - are now excited about this year's swag.  The Woodward Dream Cruise, "the world's largest one day celebration of car culture",  has seen this first hand.  People who attend the cruise aren't just looking for "a Woodward Dream Cruise t-shirt," they are looking for "This Year's Official Woodward Dream Cruise T-Shirt!"  Buyers will tell you how many years they have been attending and how many shirts they own, because they want one for each year they have attended and even ones they have missed.  Having the date on the shirt - and not just a new design - makes it worth collecting.

Dated merchandise is a great opportunity to highlight different or new features, attract repeat and new buyers and get people talking about you!  And it is fun!  Who wants to look at the same old merchandise year after year, whether it is hanging on your roller rack or in your closet?  According to Steven Miller, Merchandise Communications Manager at Disney Parks, dated merchandise is "some of our most popular merchandise we carry at Disney Parks."  At Disney, they start working on a year's dated merchandise two years in advance, and this year are highlighting the 50th anniversary of "it's a small world" in their design.



At the March of Dimes, they feature a new Family Team design each year to add to their product line.  This allows them to incorporate items that celebrate the event while 
maintaining continuity of brand and giving everyone something to look forward to each year.  March of Dimes also offers patrons even more customization with the family team shirts. Bob Aglione, Director of Event Marketing and Communications states that "March for Babies fundraisers love to personalize the back of the shirt, creating a deeply personal and unique message, further ensuring a garment that is proudly worn again and again." Most people who purchase a Family Team shirt, already have a Family Team shirt.  But having this year's Family Team shirt is special to them because it is personal and commemorates the event.

Incorporating dated merchandise is a risk, but it is worth the new interest you will generate in your brand and the impact that will have on moving your product.  After all, you can always sell last year's merchandise online or use it as a doorbuster for your new products. What you profit from dated merchandise will more than make up for the expense of a few left over pieces.