Last night, Duke beat Butler in an absolute thriller of a National Championship basketball game. Moments later, the newest economic bubble inflated when tens of thousands of orders flooded into Duke University for Duke 2010 Basketball Champion merchandise (below is the marketing email I received shortly after the game).
BusinessWeek reports that “When Kansas won the national championship in 2008, its licensing revenue exploded to $2.5 million, $1.5 million more than the previous year’s.” So, this morning I called the on-campus Duke store and a staffer confirmed that sales were 3-5 times more than a typical day. Further, the staffer said they expect this trend to continue for a few weeks.
Thus, March Madness is a story of two lotteries: the athletic one on the court and the financial one in licensed merch winnings.