The changing tariff landscape is likely to bring increased costs for races. Most races have shirts and medals are imported. Many timers import their equipment and bibtags. There is also likely to be some general inflation which will increase other costs. Each race has to decide if and how these potential changes will impact their race.
Perhaps there will be no cost increase, but this blog explains a few ways that races can recover some of those costs if they happen.
“Tariff Price Increase” & Couple with Newsworthy Discounts
The next several months might be a good time for races to increase prices under the cover of the general expectation of rising costs caused by tariffs.
We also know that many registrations happen when there is an incentive. A price increase can be a motivating reason for people signup before the “tariff price increase”. Additionally, there can be periodic “tariff holiday pricing” promotions that help drive registrations.
Giveaway Pricing
RunSignup offers a few ways to pass increased tariff prices on more directly, and help customers avoid those extra costs.
First, you can rename the Giveaway option as this example shows:
Second, you can charge a “tariff surcharge” for shirts (which races can explain with our free websites and free email!):
Third, you can give a discount for a “no shirt” option. This can be a nice combination with a “tariff surcharge”.
Switch to Add-Ons from Giveaways
Races may want to be even more aggressive and eliminate giveaway items. RunSignup has a very advanced and flexible Add-On capability so races can charge their true costs or cost + markup directly. This provides participants with a choice that can help limit cost increases races face from increased costs. It also provides a way to offer multiple options, some of which might be higher cost and quality. The options would appeal to some participants who might prefer a short sleeve or long sleeve shirt, or quarter zip.
Summary
The good news is that RunSignup does not see any significant impact from tariffs on our costs structure, so are likely able to keep our low prices the same for the foreseeable future.