The live entertainment industry took a hard blow when the pandemic first hit. As guidelines and protocols eased up, the industry saw a glimmer of hope when live entertainment could commence once again.
Overview:
As outdoor gatherings slowly made their return post-lockdown, live entertainment company Family Entertainment Holding’s Magic of Lights show was going strong. Although certain COVID restrictions and guidelines were still in effect, The Magic of Lights is an outdoor drive-thru Holiday Light Show. Perfect for the COVID restrictions. The company anticipated a lot of families at every location and ordered enough merchandise based on the previous tours’ attendance.
The live shows received record-setting attendance. Unfortunately, the set-up to sell merchandise did not work as well as previous tours due to a number of new restrictions.
The (Inventory) Problem:
Family Entertainment Holdings was stuck with a few truck loads of branded promotional merchandise left over from the tour. All the merchandise was holiday themed. The company contemplated the possibility that the merchandise could be used the following year; however, the batteries could be close to expiration the following year.
Net Trade Steps In
Family Entertainment Holdings called Net Trade to step in and save the show. Net Trade collected all the excess inventory from the multiple locations and moved it to their warehouse facility. With extensive experience running media for live event producers, Net Trade helped the client turn their surplus inventory into media trade credits.
The entertainment company traded in their surplus merchandise – at full value – in exchange for trade credits that helped pay for the radio, TV and digital ads that promoted future outdoor shows. The Trade Credit was also used to partially pay for temporary labor and other large recurring business expenses. What was once difficult inventory to move, now helped attract attendees that would fill up the seats at their next live event. That’s why you should choose Net Trade.