diff --git a/apps/web/src/app/features/npc/merchant-page.component.html b/apps/web/src/app/features/npc/merchant-page.component.html
index 9850ecd..cad6e7a 100644
--- a/apps/web/src/app/features/npc/merchant-page.component.html
+++ b/apps/web/src/app/features/npc/merchant-page.component.html
@@ -208,6 +208,21 @@
         <h2 class="merchant__panel-title">{{ shop.shopName }}</h2>
         <p class="merchant__purse" data-purse>{{ shop.silver }} Silver</p>
 
+        @if (store.newlyUnlocked().length > 0) {
+          <p class="shop-unlocked" data-unlocked aria-live="polite">
+            @for (name of store.newlyUnlocked(); track name) {
+              <span>New merchant offer unlocked: {{ name }}</span>
+            }
+            <button
+              type="button"
+              class="merchant__link"
+              (click)="store.dismissUnlocked()"
+            >
+              Dismiss
+            </button>
+          </p>
+        }
+
         <ul class="shop-list">
           @for (offer of shop.offers; track offer.itemKey) {
             <li class="shop-row" [attr.data-shop-item]="offer.itemKey">
diff --git a/apps/web/src/app/features/npc/merchant-page.component.scss b/apps/web/src/app/features/npc/merchant-page.component.scss
index e21acf0..9e6f792 100644
--- a/apps/web/src/app/features/npc/merchant-page.component.scss
+++ b/apps/web/src/app/features/npc/merchant-page.component.scss
@@ -380,6 +380,17 @@
   font-size: var(--ar-font-sm);
 }
 
+/* A line, not a modal (slice 0.8.5 §9). */
+.shop-unlocked {
+  display: flex;
+  flex-wrap: wrap;
+  gap: var(--ar-space-2);
+  align-items: center;
+  margin: 0;
+  color: var(--ar-gold);
+  font-size: var(--ar-font-sm);
+}
+
 @media (max-width: 40rem) {
   .merchant__identity {
     grid-template-columns: 1fr;
diff --git a/apps/web/src/app/features/npc/merchant.store.spec.ts b/apps/web/src/app/features/npc/merchant.store.spec.ts
index 09fa08d..8e22aaf 100644
--- a/apps/web/src/app/features/npc/merchant.store.spec.ts
+++ b/apps/web/src/app/features/npc/merchant.store.spec.ts
@@ -6,6 +6,7 @@ import type {
   ExchangeResult,
   ExchangeView,
   NpcInteraction,
+  ShopOfferView,
   ShopView,
 } from '../../core/api/game-api.models';
 import { GameApiService } from '../../core/api/game-api.service';
@@ -74,26 +75,35 @@ function exchangeView(overrides: Partial<ExchangeView> = {}): ExchangeView {
   };
 }
 
-function shopView(): ShopView {
+/** A single shop offer, defaulting to the fields no test in this file varies. */
+function offer(
+  itemKey: string,
+  itemName: string,
+  unlocked: boolean,
+): ShopOfferView {
+  return {
+    itemKey,
+    itemName,
+    itemDescription: 'A bitter draught.',
+    iconPath: '/images/items/potion.png',
+    currencyType: 'SILVER',
+    price: 12,
+    quantity: 1,
+    effectSummary: null,
+    requirements: [],
+    unlocked,
+    affordable: true,
+  };
+}
+
+function shopView(offers?: ShopOfferView[]): ShopView {
   return {
     shopKey: 'borin-supplies',
     shopName: "Quartermaster's Supplies",
     npcKey: 'borin-quartermaster',
     silver: 100,
-    offers: [
-      {
-        itemKey: 'small-healing-potion',
-        itemName: 'Small Healing Potion',
-        itemDescription: 'A bitter draught.',
-        iconPath: '/images/items/potion.png',
-        currencyType: 'SILVER',
-        price: 12,
-        quantity: 1,
-        effectSummary: null,
-        requirements: [],
-        unlocked: true,
-        affordable: true,
-      },
+    offers: offers ?? [
+      offer('small-healing-potion', 'Small Healing Potion', true),
     ],
   };
 }
@@ -111,11 +121,23 @@ function tradeResult(): ExchangeResult {
   };
 }
 
-function createApi(overrides: Partial<Record<string, unknown>> = {}) {
+function createApi(
+  overrides: Partial<Record<string, unknown>> & { shopSequence?: ShopView[] } = {},
+) {
+  // `shopSequence` lets a test hand back a different shop view on each call to
+  // `getShop`, so before/after `unlocked` flags can be observed across a trade
+  // without needing a real server round-trip.
+  const { shopSequence, ...rest } = overrides;
+  let shopCallIndex = 0;
+
   return {
     getNpcInteraction: vi.fn(() => of(interaction())),
     getTradeIn: vi.fn(() => of(exchangeView())),
-    getShop: vi.fn(() => of(shopView())),
+    getShop: vi.fn(() =>
+      shopSequence
+        ? of(shopSequence[Math.min(shopCallIndex++, shopSequence.length - 1)])
+        : of(shopView()),
+    ),
     tradeIn: vi.fn(() => of(tradeResult())),
     getCharacter: vi.fn(() =>
       of({
@@ -137,7 +159,7 @@ function createApi(overrides: Partial<Record<string, unknown>> = {}) {
         silverBalance: 88,
       }),
     ),
-    ...overrides,
+    ...rest,
   };
 }
 
@@ -361,4 +383,75 @@ describe('MerchantStore', () => {
     store.showPanel('EXCHANGE');
     expect(store.panel()).toBe('EXCHANGE');
   });
+
+  it('announces an offer that a trade just unlocked', async () => {
+    // Reputation earned by the trade opened the pouch. The player should learn
+    // that without hunting for it (slice §9).
+    const api = createApi({
+      shopSequence: [
+        shopView([offer('basic-trophy-pouch', 'Basic Trophy Pouch', false)]),
+        shopView([offer('basic-trophy-pouch', 'Basic Trophy Pouch', true)]),
+      ],
+    });
+    const store = createStore(api);
+
+    await store.load('borin-quartermaster');
+    store.setQuantity('ash-pelt', 1);
+    await store.tradeSelected();
+
+    expect(store.newlyUnlocked()).toEqual(['Basic Trophy Pouch']);
+  });
+
+  it('says nothing when a trade unlocks nothing', async () => {
+    const api = createApi({
+      shopSequence: [
+        shopView([offer('basic-trophy-pouch', 'Basic Trophy Pouch', false)]),
+        shopView([offer('basic-trophy-pouch', 'Basic Trophy Pouch', false)]),
+      ],
+    });
+    const store = createStore(api);
+
+    await store.load('borin-quartermaster');
+    store.setQuantity('ash-pelt', 1);
+    await store.tradeSelected();
+
+    expect(store.newlyUnlocked()).toEqual([]);
+  });
+
+  it('does not re-announce an offer that was already open', async () => {
+    const api = createApi({
+      shopSequence: [
+        shopView([offer('small-healing-potion', 'Small Healing Potion', true)]),
+        shopView([offer('small-healing-potion', 'Small Healing Potion', true)]),
+      ],
+    });
+    const store = createStore(api);
+
+    await store.load('borin-quartermaster');
+    store.setQuantity('ash-pelt', 1);
+    await store.tradeSelected();
+
+    expect(store.newlyUnlocked()).toEqual([]);
+  });
+
+  it('clears the unlock banner on a fresh load and at the start of a purchase', async () => {
+    // A stale banner from a previous merchant visit, or from before a buy
+    // click resolves, would misattribute an unlock to the wrong action.
+    const api = createApi({
+      shopSequence: [
+        shopView([offer('basic-trophy-pouch', 'Basic Trophy Pouch', false)]),
+        shopView([offer('basic-trophy-pouch', 'Basic Trophy Pouch', true)]),
+      ],
+    });
+    const store = createStore(api);
+
+    await store.load('borin-quartermaster');
+    store.setQuantity('ash-pelt', 1);
+    await store.tradeSelected();
+    expect(store.newlyUnlocked()).toEqual(['Basic Trophy Pouch']);
+
+    await store.buy('basic-trophy-pouch');
+
+    expect(store.newlyUnlocked()).toEqual([]);
+  });
 });
diff --git a/apps/web/src/app/features/npc/merchant.store.ts b/apps/web/src/app/features/npc/merchant.store.ts
index ee3c2e3..77be705 100644
--- a/apps/web/src/app/features/npc/merchant.store.ts
+++ b/apps/web/src/app/features/npc/merchant.store.ts
@@ -30,6 +30,8 @@ const ERROR_MESSAGES: Readonly<Record<string, string>> = {
   SHOP_OFFER_LOCKED: 'You have not earned the right to buy this yet.',
   SHOP_INSUFFICIENT_SILVER: 'You cannot afford that.',
   SHOP_INVALID_QUANTITY: 'That quantity cannot be bought.',
+  MERCHANT_REPUTATION_TOO_LOW: 'You have not earned enough standing for this yet.',
+  SHOP_BAG_ALREADY_OWNED: 'You already carry that.',
   CHARACTER_NOT_FOUND: 'Your character could not be found.',
 };
 
@@ -59,6 +61,7 @@ export class MerchantStore {
   private readonly lastTradeState = signal<ExchangeResult | null>(null);
   private readonly lastPurchaseState = signal<ShopPurchaseResult | null>(null);
   private readonly selectionState = signal<Record<string, number>>({});
+  private readonly newlyUnlockedState = signal<string[]>([]);
 
   readonly interaction = this.interactionState.asReadonly();
   readonly exchange = this.exchangeState.asReadonly();
@@ -71,6 +74,7 @@ export class MerchantStore {
   readonly lastTrade = this.lastTradeState.asReadonly();
   readonly lastPurchase = this.lastPurchaseState.asReadonly();
   readonly selection = this.selectionState.asReadonly();
+  readonly newlyUnlocked = this.newlyUnlockedState.asReadonly();
 
   /** True once anything is selected, so the trade button can enable. */
   readonly hasSelection = computed(() =>
@@ -110,6 +114,7 @@ export class MerchantStore {
     this.lastTradeState.set(null);
     this.lastPurchaseState.set(null);
     this.selectionState.set({});
+    this.newlyUnlockedState.set([]);
     this.panelState.set('DIALOGUE');
 
     try {
@@ -207,8 +212,13 @@ export class MerchantStore {
       // capacity, Silver and possibly renown at once, and the server is the
       // only place that knows all of it.
       this.exchangeState.set(await firstValueFrom(this.api.getTradeIn(npcKey)));
-      this.shopState.set(
-        this.shopState() ? await firstValueFrom(this.api.getShop(npcKey)) : null,
+      const previousShop = this.shopState();
+      const refreshedShop = previousShop
+        ? await firstValueFrom(this.api.getShop(npcKey))
+        : null;
+      this.shopState.set(refreshedShop);
+      this.newlyUnlockedState.set(
+        this.unlockedSince(previousShop, refreshedShop),
       );
 
       // The purse in the top bar comes from the shared character state, so a
@@ -230,6 +240,9 @@ export class MerchantStore {
 
     this.pendingState.set(itemKey);
     this.actionErrorState.set(null);
+    // A purchase re-reads the shop below, so a banner from an earlier trade
+    // must not linger and be misread as caused by this buy.
+    this.newlyUnlockedState.set([]);
 
     try {
       this.lastPurchaseState.set(
@@ -252,6 +265,37 @@ export class MerchantStore {
     this.lastPurchaseState.set(null);
   }
 
+  dismissUnlocked(): void {
+    this.newlyUnlockedState.set([]);
+  }
+
+  /**
+   * Offer names that went from locked to open (slice §9).
+   *
+   * Derived from two shop reads the store already performs rather than from a
+   * server event: the trade re-fetches the shop anyway, so the before/after
+   * state is in hand, and a notification the server has to remember would be
+   * more machinery than a one-line message is worth.
+   */
+  private unlockedSince(
+    before: ShopView | null,
+    after: ShopView | null,
+  ): string[] {
+    if (!before || !after) {
+      return [];
+    }
+
+    const wasLocked = new Set(
+      before.offers
+        .filter((offer) => !offer.unlocked)
+        .map((offer) => offer.itemKey),
+    );
+
+    return after.offers
+      .filter((offer) => offer.unlocked && wasLocked.has(offer.itemKey))
+      .map((offer) => offer.itemName);
+  }
+
   private toMessage(error: unknown): string {
     if (error instanceof HttpErrorResponse) {
       const code = (error.error as { code?: string } | null)?.code;