Merchandise having desirable qualities succeeded (5)
I believe the answer is:
goods
'merchandise' is the definition.
(goods can mean merchandise or wares)
'having desirable qualities succeeded' is the wordplay.
'having desirable qualities' becomes 'good' (I've seen this before).
'succeeded' becomes 's' (genealogical abbreviation).
'good'+'s'='GOODS'
(Other definitions for goods that I've seen before include "- - and chattels" , "Commodities" , "Merchandise; freight" , "Merchandise, possessions" , "Wares" .)