No Shame in a Bargain

While the golden and crimson leaves are falling and Americans are digging out their coats and scarves for the cooler weather, the retail sector is strategizing ways to combat their dismal sales predicted for the upcoming holiday season.

But there's one branch of the retail sector that isn't worrying about their sales: the resale and thrift shop sector.

“In August the National Association of Resale & Thrift Shops (NARTS), which claims to be the world's largest resale trade association, said a survey of its membership about second quarter sales in 2009 compared to the same period in 2008 showed increasing turnover in the second-hand sector,” as reported by Reuters earlier this month.

The dark and bulging cloud of the recession has rained on many Americans, drowning them in unemployment, loss of their homes, and for the rest a fear of the financial unknown. This has made many Americans, who's favorite past time happens to be shopping, be more cautious about their spending. Frugality and resourcefulness has led many to the used and second-hand shops, where bargains are aplenty, treasures may be found, and beauty can be in the eye of the beholder.

“I'm just being careful and thinking twice about my purchases, “ stated Jean Schneider as she shopped at her local Goodwill, as quoted in the Seattle Times.

The Tacoma and Seattle chapters of Goodwill are not only flourishing but are opening up new stores across the Puget Sound, while other retailers are shutting their doors for good at the end of the day. The Tacoma Goodwill alone anticipates sales around $40 million for 2009.

Besides a bargain, second-hand and thrift shops encourage recycling and allow people to buy one-of-a-kind items for their wardrobe and home.

“For me it's a recycling thing. We also did it before the recession but we are even more careful now," said Kathy Gropper, a frequent shopper of Half-Priced Books, to the New York Times.

Retailers like Half-Priced Books and Crossroads Clothing Co. allow customers to trade and sell their own items for used ones, all while giving the customer the satisfaction of purchasing something “new,” and isn't that most of the enticement of shopping?

Realizing the success of this model and its current demand, one company has brought this model online.

“None of the other models — posting items and selling them on eBay, bartering or selling them — were enticing enough from a convenience standpoint,” said Mr. Reinhart, a recent Harvard graduate, as quoted by the New York Times.

Reinhart and his college roommate Oliver Lubin started the online company ThredUp, which allows customers to list their unwanted clothing and what they're interested in and ThredUp then finds them clothes based on what they are looking for and buyers of their unwanted items.

“Reed Hastings, the founder and chief executive of Netflix, is an adviser to the company,” and much of their business model and delivery system is heavily influenced by Netflix, which hasn't done so bad for itself.

With Christmas a little over two months away, second-hand shops may alleviate some of the guilty over-spending usually associated with the holidays and allow people to rest easy with their bargains in hand.