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Participating in the seasonal contests will increase your friendship points with the villagers and some of the festivals will also affect the cost of the goods you ship. Nine of the festivals will impact your brand associated with the profit you earn from twelve categories of items. You can find your branding by checking the bookshelf inside your farmhouse and selecting the first menu option, Assets, and then looking on the bottom screen.

When you win a festival, along with your festival prize you'll earn a brand associated with that festival. Since there are three classes for each festival, there are three branding ranks: unknown, popular, and expensive. The higher your brand, the more money you'll earn for shipping goods associated with that brand.

You won't have any brand associated with the twelve categories when you first start the game. Your brand will upgrade as you win festivals; win a beginner's class festival and get assigned the unknown rank, an intermediate will earn you a popular brand, and the advanced class will get you a expensive brand. Having the unknown brand will increase profit earned from shipped goods by 120%, popular will increase profit by 150%, and the expensive brand will increase money earned from its associated shipped goods by 200%.

Brand ranks will not decrease if you choose to enter a lower rank festival. If you've earned the expensive brand and then enter a beginner rank festival, you won't drop to the unknown rank if you win. You'll retain your highest earned brand.