Brianne West
June 19, 2024
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Trade Aid is closing its 24 stores, but I reckon we can save this brand.
It’s such a sad indictment on society that Trade Aid is struggling while brands just around the corner that are selling BS fast fashion are doing just fine... But that’s another rant for another day.
So, here are the three things I would do to help Trade Aid.
1. Increase prices.
I would increase my prices. I bought three pairs of earrings for $20, $16, and $22 respectively.
These earrings are made by skilled artisans in places like Bombolulu,which is a program run in Kenya to provide an option for physically disabled workers to create an income, which is a fantastic story. There is something call “perceived value” where, to simplify the concept somewhat, the more you pay for something the more you think it’s worth. I think Trade Aid is doing itself a massive disservice with the prices it’s charging. They’re simply not high enough, so people aren’t valuing them.
2. Product range.
They have a huge range of products, but I actually think it’s too many. I would really delve into who my customer is. What is it they want to buy from us? And really niche down into that. For instance, as beautiful as they are, the market for baskets in Aotearoa may not be huge.
3. Storytelling.
Finally, I would get way better at storytelling. Because the stories that Trade Aid has are awesome, and they’ve actually got some great videos on YouTube. But they’re not anywhere else. They need to get on TikTok.And I wouldn’t talk about the products. I would talk about the people behind them, because at the end of the day, that is what you go to Trade Aid for,right? You create reels and videos and TikToks all about the stories behind the products. Sell the stories, not the products. The CEO has said that this is a progressive shutdown of retail stores. So, if we show support to these guys,they may be able to save some of the stores.
