For most merchandise, there are two markets in which they sell: retail and special markets.  Special Markets includes incentive marketing. Keeping tabs on what’s happening in the retail market, however, can be a good indicator to the success of an item as an incentive.  How can understanding retail markets affect your incentive program? Consider this.

What’s Hot?

The appeal of an item is a powerful part of what makes a good incentive.  We can leverage the manufacturer’s and retailer’s success in marketing and selling their items by seeing how well the consumer responds to the message.  We can also pick up on trends such as color, fabric, themes (green, eco-friendly), etc.

Brand Support

Retail trends can also tell us which brands are hot.  We can also gain insight as to when they are hot.  Items that are selling well get more airtime, more marketing, more buzz, which means you get more perceived value in your marketing gift selection.

Inventory Support

Product that is doing well in retail typically has a lot of manufacturing support.  Most manufacturers have limited production capability, which means they must devote their line time to items with the most potential.  In today’s economy, many gifts go through a pilot launch, and if they don’t receive enough response, the manufacturer will discontinue the item immediately.  Picking items with good retail prospects insulates you from availability issues.

Knowing how to ride the “retail wave” can pump up the results of your incentive marketing program.  At River Rock Marketing, we constantly scour the retail markets looking for the newest and most innovative items that meet the criteria of success we have learned through the years in supporting financial institutions.