WSJ: “Shoppers Turn To Consignment Stores”
The Wall Street Journal just published a quick article on the growing tide of shoppers who are realizing there is nothing wrong, and plenty right with consignment store shopping. You can read the full article here. In the meantime, here’s a snippet:
The economic downturn is bad for the nearby mall but good for local consignment shops. Sales at these stores have soared since January as cash-strapped consumers look for bargains, income and tax deductions.
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“This industry just keeps growing, but especially during slow times,” says Adele R. Meyer, executive director of the 1,000-member National Association of Resale and Thrift Shops. “Once people find that great bargain, they’re hooked.”
A recent survey of NARTS members found that 66.2% of the stores saw sales climb from January through August 2008, compared with the same period of 2007. The average increase was 35%. The survey found that 85.8% of stores have seen an increase in new customers and 74.5% are seeing new suppliers or donors.