Welcome to the Fear and Greed Business Interview. I'm sean Ailmam. It's one of the easiest ways for businesses to market themselves to new and existing customers branded merchandise, but when something like sixty six percent of branded merch ends up in landfill, it can become an expensive and potentially wasteful way of getting your message out there. Merchant is a digital platform in a very analog industry, streamlining the process for companies to invest in branded merchandise. We've partnered with them as well to produce Fear and Greed merchandise. You might have seen our Fear and Greed hats in some of our social media videos, but Merchant draws a very clear line between making merchandise and compromising its own ethics. In its early days, it turned out an order for two hundred and fifty thousand plastic whistles because they knew every one of them would likely end up in Sydney Harbor. Benjamin Reid is the CEO of Mercher, which is a partner of this podcast. He joins me now in the studio. Ben Welcome to Fear and Greed.

Welcome to the Fear and Greed Business Interview. I'm sean Ailmam. It's one of the easiest ways for businesses to market themselves to new and existing customers branded merchandise, but when something like sixty six percent of branded merch ends up in landfill, it can become an expensive and potentially wasteful way of getting your message out there. Merchant is a digital platform in a very analog industry, streamlining the process for companies to invest in branded merchandise. We've partnered with them as well to produce Fear and Greed merchandise. You might have seen our Fear and Greed hats in some of our social media videos, but Merchant draws a very clear line between making merchandise and compromising its own ethics. In its early days, it turned out an order for two hundred and fifty thousand plastic whistles because they knew every one of them would likely end up in Sydney Harbor. Benjamin Reid is the CEO of Mercher, which is a partner of this podcast. He joins me now in the studio. Ben Welcome to Fear and Greed.

Oh thank you so much for having me. It's lovely to be here.

Oh thank you so much for having me. It's lovely to be here.

Tell me about the whistles.

Tell me about the whistles.

Yeah, the whistles. So that was very early days. We launched the business in February of twenty twenty two. It wasn't long after that, so, you know, a time we would have really really enjoyed having, you know, a large order like that, and it was from large organization, which is not unlike the one that we're you know, the building we're sitting in here, and you know, we had a very we drew a very clear line at Mercha in the early days that we were not going to support what we'd say is cheap, pre land filled junk. And unfortunately a lot of promotional products are just that their lowest common denominator. They are literally built to fail. And the person that was looking to place the order was just looking for something for New Year's If we knew all of them were going to end up in the bin, or they're going to the harbor, or they gonna end up in nature somewhere, and it would have been great to have the cash at that point, but we decided it was better not to do it, and I think it was right, the right decision, and we know who did it as well as one of our competitors.

Yeah, the whistles. So that was very early days. We launched the business in February of twenty twenty two. It wasn't long after that, so, you know, a time we would have really really enjoyed having, you know, a large order like that, and it was from large organization, which is not unlike the one that we're you know, the building we're sitting in here, and you know, we had a very we drew a very clear line at Mercha in the early days that we were not going to support what we'd say is cheap, pre land filled junk. And unfortunately a lot of promotional products are just that their lowest common denominator. They are literally built to fail. And the person that was looking to place the order was just looking for something for New Year's If we knew all of them were going to end up in the bin, or they're going to the harbor, or they gonna end up in nature somewhere, and it would have been great to have the cash at that point, but we decided it was better not to do it, and I think it was right, the right decision, and we know who did it as well as one of our competitors.

So right, okay, so how do you think about where the merchandise comes from. How can we be sure that if we get to your business, we aren't getting things out of a Bangladeshi factory of people of you know, slave libe. It's that type of thing.

So right, okay, so how do you think about where the merchandise comes from. How can we be sure that if we get to your business, we aren't getting things out of a Bangladeshi factory of people of you know, slave libe. It's that type of thing.

Yeah, sure. So so first of all, Bangladesh is has both good and bad suppliers. So one of our favorite, one of our best suppliers, as Color actually wearing an as colored T shirt. They manufacture in Bangladesh and they do it well. So it's not so it's not necessarily the place, but the supplier. All of our suppliers are independently certified. So you know, O Techo, there's there's a few kind of major bodies that certify you know that they number one, improve the communities, don't trash them. They pay their people well, they support you know, growth and things like that, and they do it in a meaningful way. So all of our suppliers are self certified by these organizations. But we actually also make them sign a what we call a Supplier for Good pledge that basically says they're not going to engage in slave labor. They're not going to create an unnecessary waste and things like that. In this day and age, you can't be one hundred percent clear all the time. I mean to go and U has kind of been a figurehead of you know, responsible production. They don't always get it right, so it is hard. It is hard to manage. We don't literally fly to every factory, but we do. You know, have to rely on some of these organizations to support them. But my co founder Sam, he comes to the industry, he knows the good suppliers, he knows the bad ones. So we've kind of hand picked the suppliers, not all the suppliers to kind of make it through to become merchant suppliers.

Yeah, sure. So so first of all, Bangladesh is has both good and bad suppliers. So one of our favorite, one of our best suppliers, as Color actually wearing an as colored T shirt. They manufacture in Bangladesh and they do it well. So it's not so it's not necessarily the place, but the supplier. All of our suppliers are independently certified. So you know, O Techo, there's there's a few kind of major bodies that certify you know that they number one, improve the communities, don't trash them. They pay their people well, they support you know, growth and things like that, and they do it in a meaningful way. So all of our suppliers are self certified by these organizations. But we actually also make them sign a what we call a Supplier for Good pledge that basically says they're not going to engage in slave labor. They're not going to create an unnecessary waste and things like that. In this day and age, you can't be one hundred percent clear all the time. I mean to go and U has kind of been a figurehead of you know, responsible production. They don't always get it right, so it is hard. It is hard to manage. We don't literally fly to every factory, but we do. You know, have to rely on some of these organizations to support them. But my co founder Sam, he comes to the industry, he knows the good suppliers, he knows the bad ones. So we've kind of hand picked the suppliers, not all the suppliers to kind of make it through to become merchant suppliers.

And are there's certain regions that most of the supplies come from.

And are there's certain regions that most of the supplies come from.

So look, most of the things that that are produced come from China. And again you have to think about the not the place, but the right. So China is one of the best manufacturers in the world, and they manufacture great things. I mean, if you look around the room, and I would say the vast majority of things in here are produced in China, but China would be the majority. Again, as color produces in Bangladesh, we have some suppliers like Belroy, which is a great Aussie brand, which is quite special. You know, they produced a lot in China. They do use Vietnam. So you know, we don't pay as much attention to where our suppliers choose to, you know, create their goods as long as they do it again, they make them to last, and they made them fairly Okay.

So look, most of the things that that are produced come from China. And again you have to think about the not the place, but the right. So China is one of the best manufacturers in the world, and they manufacture great things. I mean, if you look around the room, and I would say the vast majority of things in here are produced in China, but China would be the majority. Again, as color produces in Bangladesh, we have some suppliers like Belroy, which is a great Aussie brand, which is quite special. You know, they produced a lot in China. They do use Vietnam. So you know, we don't pay as much attention to where our suppliers choose to, you know, create their goods as long as they do it again, they make them to last, and they made them fairly Okay.

So in a world of digital advertising, why does merch still matter?

So in a world of digital advertising, why does merch still matter?

Now?

Now?

I can ask my kids that, and my kids love merch. Right if they play in any sporting team, the most exciting moment isn't that first try or the first goal or whatever. It's getting the merch at the beginning of the season.

I can ask my kids that, and my kids love merch. Right if they play in any sporting team, the most exciting moment isn't that first try or the first goal or whatever. It's getting the merch at the beginning of the season.

Yeah, it's a great question, and I think you know, we are in a digital age. We've been in digital age for a long time. You know, with the advent of AI, it's not even advent, it's very much happening. You know, we're going to see for further digitalization of everything. You know, having something that you can feel and touch, something that you can wear and own, you know, is still very meaningful, as is sitting here face to face. We could have done this, you know, I could have sat at my office and done this with you. But it's actually really lovely to sit here and look at you face to face. Same way that a brand can represent themselves with merch provided it's done right, and done right is the you know, the key part of that. If they're making something that's cheap, if it's going to fall apart after one use or not even one use, it's better just to save the money and not do it. But I think there's a very real tangible benefit for your brand in the long run of having something beautiful, you know, that is made to last and made fairly that somebody can keep and use for years to come.

Yeah, it's a great question, and I think you know, we are in a digital age. We've been in digital age for a long time. You know, with the advent of AI, it's not even advent, it's very much happening. You know, we're going to see for further digitalization of everything. You know, having something that you can feel and touch, something that you can wear and own, you know, is still very meaningful, as is sitting here face to face. We could have done this, you know, I could have sat at my office and done this with you. But it's actually really lovely to sit here and look at you face to face. Same way that a brand can represent themselves with merch provided it's done right, and done right is the you know, the key part of that. If they're making something that's cheap, if it's going to fall apart after one use or not even one use, it's better just to save the money and not do it. But I think there's a very real tangible benefit for your brand in the long run of having something beautiful, you know, that is made to last and made fairly that somebody can keep and use for years to come.

So what is good? I mean, what sort of merchandise do you produce? Number one? And what is it that most people want?

So what is good? I mean, what sort of merchandise do you produce? Number one? And what is it that most people want?

Yeah, good questions. So I'll start with the second question. So you know, there is an eighty twenty rule to merch you know, the parade or principal rule supreme. A lot of people will order the T shirt, the Humble T shirt, notebooks, water bottles, pens, caps, those are all very very popular items. We do find people that are interested in trying new things, doing things a little bit differently. We did this fantastic project with we basically created these bright red kit Kat tracksuits that we did. We worked with an agency to do it. I think it's tvw A. You know, they wanted something of special and different and we have a lot of people who like those things as well. I talked about Belroy before. You know, Belroy is more expensive, but it's really special. I mean I've got my Bellroy backpack sitting over there with much of branded on it. It's a great Aussie brand and it really is meaningful. You know, if you're trying to give something away that's special, you know to a C level level executive who gets given a lot of things, that's that's kind of way to cut through. And sorry, I got your first question.

Yeah, good questions. So I'll start with the second question. So you know, there is an eighty twenty rule to merch you know, the parade or principal rule supreme. A lot of people will order the T shirt, the Humble T shirt, notebooks, water bottles, pens, caps, those are all very very popular items. We do find people that are interested in trying new things, doing things a little bit differently. We did this fantastic project with we basically created these bright red kit Kat tracksuits that we did. We worked with an agency to do it. I think it's tvw A. You know, they wanted something of special and different and we have a lot of people who like those things as well. I talked about Belroy before. You know, Belroy is more expensive, but it's really special. I mean I've got my Bellroy backpack sitting over there with much of branded on it. It's a great Aussie brand and it really is meaningful. You know, if you're trying to give something away that's special, you know to a C level level executive who gets given a lot of things, that's that's kind of way to cut through. And sorry, I got your first question.

The well, actually we'll be back in the moment Ben, because we just take a break. I'm speaking to Ben Reid, CEO of Mercher. So the first part of that question was kind of the breadth of what you produce. Oh, clearly you produce everything and anything.

The well, actually we'll be back in the moment Ben, because we just take a break. I'm speaking to Ben Reid, CEO of Mercher. So the first part of that question was kind of the breadth of what you produce. Oh, clearly you produce everything and anything.

Lots of things. You know, you can put your brand on just about anything. It's really important to note that you know this this industry you're you know, you buy basically blank supply. So we have most of our suppliers in fact, all but one are local Ausy businesses. They design and they produce these goods and then they hold them here in local Australian warehouses not too far away from where we are right now. But there is a multitude of things you can put your brand on. I mean you can literally put your brand on just by anything. It can be a pen, it can be a wallet. Seven. So we you know, we try to our inch wide, mile deep target is and the people that we're really trying to service right now at this stage of our growth, they are financial services companies, professional services companies, technology companies, you know who really appreciate our smooth, kind of seamless online purchasing experience. And you know their needs are different than say a mining company. Right. So we have workware in our range, but we don't have a lot. We have things that cover kind of the basics. We don't cover everything that the miners might need, but we cover pretty much everything that any professional service or technology company or financial service company would want. So whether it's pens or chargers or anything, we have all of it.

Lots of things. You know, you can put your brand on just about anything. It's really important to note that you know this this industry you're you know, you buy basically blank supply. So we have most of our suppliers in fact, all but one are local Ausy businesses. They design and they produce these goods and then they hold them here in local Australian warehouses not too far away from where we are right now. But there is a multitude of things you can put your brand on. I mean you can literally put your brand on just by anything. It can be a pen, it can be a wallet. Seven. So we you know, we try to our inch wide, mile deep target is and the people that we're really trying to service right now at this stage of our growth, they are financial services companies, professional services companies, technology companies, you know who really appreciate our smooth, kind of seamless online purchasing experience. And you know their needs are different than say a mining company. Right. So we have workware in our range, but we don't have a lot. We have things that cover kind of the basics. We don't cover everything that the miners might need, but we cover pretty much everything that any professional service or technology company or financial service company would want. So whether it's pens or chargers or anything, we have all of it.

I mean, I'm thinking about merchandis more than I've ever thought about before. In this very moment been with you. Good trends in merch where some products suddenly everyone wants a cap and then everyone wants a pain and then like that, does it happen that way?

I mean, I'm thinking about merchandis more than I've ever thought about before. In this very moment been with you. Good trends in merch where some products suddenly everyone wants a cap and then everyone wants a pain and then like that, does it happen that way?

Well, I mean there was a very clear trend a couple of years ago. Actually we wanted the business. You know, there's something happening in the world, COVID. You guys remember that, and you remember having to wear a face mask everywhere you went all the time. And so we had a whole range of ppe, you know, personal protective protective equipment and face masks and things like that, and we would sell them by the truckloads. And now we hardly sell any right, Yes, I don't think anybody wants to wear a face mask anymore if they can avoid it, you know, trends outside of that, again, I think the staples are always the staples, the eighty twenty rule. In fact, it is probably you know, closer to ninety ten in our case. There are a lot of similarities between what people want, you know, they just might prefer a different design. I mean, you know, for the last however many years, you know, people have been conscious about their water consumption. So you see a lot of water bottles right, We have a lot of different designs of water bottles. We don't have hundreds, we have tens. We did that deliberately, so we don't want to you know, paralyze people by choice. But I think you'll find that good products like that staples, you know, there's always going to be a need for them, because everybody needs a good water ball. Everybody should at least have a good a good water ball to try to try to tell me kids all the time because they don't drink water enough. But you know, some other trends, I think lately you've seen, you know again some things that are kind of a little bit more special. So we've seen more of these kind of more premium products, like the Belroys of the world. You know, we're about to launch. I don't if I'm supposed say this, but where I think exploring having some north Faced products on our site. North Face is another fantastic brand, very similar in Ethos actually the Patagonia, although their brand has been kind of, you know, globally more targeted at performance, whereas patagon has always been about sustainability. But I think, you know, there's been a broad secular shift in the world of having less stuff, but more quality stuff and stuff that is, you know, that is useful in your life that you're not just given. I worked in corporate, I was given, you know, a plethora of you know of things that I just didn't use. And I think that is just a there's far too much stuff in the world, you know, the world's filling up with things we don't need, and it's running out of things we do need. So I think in general, the biggest trend would be just a flate quality.

Well, I mean there was a very clear trend a couple of years ago. Actually we wanted the business. You know, there's something happening in the world, COVID. You guys remember that, and you remember having to wear a face mask everywhere you went all the time. And so we had a whole range of ppe, you know, personal protective protective equipment and face masks and things like that, and we would sell them by the truckloads. And now we hardly sell any right, Yes, I don't think anybody wants to wear a face mask anymore if they can avoid it, you know, trends outside of that, again, I think the staples are always the staples, the eighty twenty rule. In fact, it is probably you know, closer to ninety ten in our case. There are a lot of similarities between what people want, you know, they just might prefer a different design. I mean, you know, for the last however many years, you know, people have been conscious about their water consumption. So you see a lot of water bottles right, We have a lot of different designs of water bottles. We don't have hundreds, we have tens. We did that deliberately, so we don't want to you know, paralyze people by choice. But I think you'll find that good products like that staples, you know, there's always going to be a need for them, because everybody needs a good water ball. Everybody should at least have a good a good water ball to try to try to tell me kids all the time because they don't drink water enough. But you know, some other trends, I think lately you've seen, you know again some things that are kind of a little bit more special. So we've seen more of these kind of more premium products, like the Belroys of the world. You know, we're about to launch. I don't if I'm supposed say this, but where I think exploring having some north Faced products on our site. North Face is another fantastic brand, very similar in Ethos actually the Patagonia, although their brand has been kind of, you know, globally more targeted at performance, whereas patagon has always been about sustainability. But I think, you know, there's been a broad secular shift in the world of having less stuff, but more quality stuff and stuff that is, you know, that is useful in your life that you're not just given. I worked in corporate, I was given, you know, a plethora of you know of things that I just didn't use. And I think that is just a there's far too much stuff in the world, you know, the world's filling up with things we don't need, and it's running out of things we do need. So I think in general, the biggest trend would be just a flate quality.

So if I'm sitting in a small business or a large business, I'm going to mercher dot com, m Erha dot com, dot au. It's purple and the alive just gone there. So if you're unlocking fifty bucks off your first order, that's all good.

So if I'm sitting in a small business or a large business, I'm going to mercher dot com, m Erha dot com, dot au. It's purple and the alive just gone there. So if you're unlocking fifty bucks off your first order, that's all good.

Right.

Right.

If I'm a marketing running marketing in a small, medium or large sized business, what's your advice on how to think about merchandise?

If I'm a marketing running marketing in a small, medium or large sized business, what's your advice on how to think about merchandise?

What's the bottom line? Yeah, So I think start with what is the purpose of what you're trying to give to somebody? So it's very simple to say, but I don't. I often think that gets lost. You're a marketer, You're busy. We know, merch is often an afterthought. It shouldn't be. It's great when it's done well, but it is often an afterthought. So think about what is the purpose. What are you trying to achieve? Right? If you're giving your you know, if you have a distributed team as an example, you know, we still see a lot of work from home. I think not as much as I was expecting to see given the whole COVID and then you know, back to work. But you know, if you're giving your team, you know, merch that you want them to actually use and wear outside of the office, it has to be done well. You know, very few people want to wear a big GUARDI logo. They don't want something that doesn't fit well. They don't want something that's poor quality. So think about the purpose first and then work back from there.

What's the bottom line? Yeah, So I think start with what is the purpose of what you're trying to give to somebody? So it's very simple to say, but I don't. I often think that gets lost. You're a marketer, You're busy. We know, merch is often an afterthought. It shouldn't be. It's great when it's done well, but it is often an afterthought. So think about what is the purpose. What are you trying to achieve? Right? If you're giving your you know, if you have a distributed team as an example, you know, we still see a lot of work from home. I think not as much as I was expecting to see given the whole COVID and then you know, back to work. But you know, if you're giving your team, you know, merch that you want them to actually use and wear outside of the office, it has to be done well. You know, very few people want to wear a big GUARDI logo. They don't want something that doesn't fit well. They don't want something that's poor quality. So think about the purpose first and then work back from there.

Fantastic, Ben, thank you for talking to Fear and Greed.

Fantastic, Ben, thank you for talking to Fear and Greed.

My pleasure. Thank you so much for having me.

My pleasure. Thank you so much for having me.

It was Ben Read, CEO of Mercher. That's m. E. R. C h A. Meercher dot com dot au, a partner of this podcast. This is the Fear and Greed Business Interview. Join us every morning for the full episode of Fear and Greed Business news for people who make their own decisions. I'm Sean, I all Mike enjoy today

It was Ben Read, CEO of Mercher. That's m. E. R. C h A. Meercher dot com dot au, a partner of this podcast. This is the Fear and Greed Business Interview. Join us every morning for the full episode of Fear and Greed Business news for people who make their own decisions. I'm Sean, I all Mike enjoy today