Thrift stores that is.....
With consumers scrimping, thrift shops are boomingAs consumers tighten their purse strings amid the economic slowdown, many mainstream merchants are shuttering outlets, slashing prices, and struggling just to get customers in the doors. But thrift stores and resale shops are expanding their operations and preparing for one of the busiest holiday seasons ever as more people buy and sell used toys, clothes, and shoes.
The numbers are telling: In October, retail sales fell 2.8 percent - the largest percentage decline since 1992 - led by declines at big merchants such as Nordstrom Inc. and Best Buy Co. Meanwhile, Morgan Memorial Goodwill Industries earned a record $1 million in sales in October from its nine stores, a 30 percent increase from last year. Second Time Around, a chain of 16 consignment shops stretching from Washington, D.C., to Maine, had a nearly 20 percent boost in revenues in the past year. And Children's Orchard has seen a roughly 15 percent increase in business over the past few months.
The National Association of Resale and Thrift Shops said members across the country are reporting an average 30 percent increase in business from January through August compared with the year-ago period, with a 75 percent increase in people donating or selling their clothes to consignment shops.