If you have clicked on this article, it may be because you are considering selling some branded merchandise. However, if branded products and apparel are not already integrated into your business model, their potential benefits may not be entirely obvious. So let’s break down how merch and retail can directly benefit your business.
We can divide the benefits into three main categories:
Long story short, branded merchandise provides your business with an additional stream of revenue that wouldn’t otherwise exist. As long as the manufacturing costs of your merchandise are below your retail price, your company will financially benefit from that profit margin. So, you can think of selling branded merch as an excellent side hustle.
Branded merchandise is advertising in itself. When customers sport your merch, whether it be a t-shirt, bumper sticker or water bottle, they act as walking billboards, but with added credibility. That branded item not only makes a positive impression upon the person who receives it, but also for those they interact with. Simple exposure to a brand improves overall recognition and credibility for a business.
Branded merchandise builds your relationships with customers. The exchange of merch is an act of direct engagement between the business and an individual. When customers choose to take your branded products home with them it takes your relationship with your customer beyond the walls of your office. Branded merchandise as gifts or freebies is also a great way to let customers know that you care.