Resale Earns Respect

Thrift shopping’s image has gone from shabby to chic over the past year or so, with all sorts of newly minted ‘frugalistas’ touting the joys of secondhand bargains on approximately 9 million new personal blogs and message boards devoted to saving money during a recession.

Those of us who’ve long been able to spot a piece of vintage Fiesta ware at 50 feet, or snap up a never-worn black cashmere swing coat for a song, have viewed the energetic new competition with alarm.

But there is no question about it: Secondhand stores are mainstream these days and as such, belong in your business pages, as small business stories, sources for money-saving tips, reflections of the local economy, new tenants for vacant commercial space and other facets of the financial prism.

This year, the National Retail Federation even queried consumers about resale shopping for its venerable back-to-school sales survey. Discount stores still reign supreme but 18 percent of shoppers polled said they’ll be hitting thrift shops for school-days deals.

They’ll have plenty from which to choose. The National Association of Retail and Thrift Shops estimates that there are 25,000 to 30,000 non-profit and for-profit thrift, consignment and retail shops nationwide. In a recent survey, 64 percent of NARTS members reported that second-quarter sales were up an average 31 percent in 2009 compared to the same three months in 2008.

Two-thirds of sellers also said the volume of incoming inventory (traditionally from individuals looking to sell off discarded goods) also was up, and the quality of items had increased. In other words, dollar-wise consumers are cleaning out closets and donating goods for a tax write-off or consigning them to sale in hopes of a profit.

Audiences love to read about bargains and the multimedia/graphic possibilities abound – list of area thrift shops, tips from proprietors about how to make the most of consignment sales, tips from savvy consumers about how to unearth the best find. For the latter, just Google something like “garage sale queen” or “yard sale fanatic,” to find plenty of blogs by homegrown experts. Show readers what they can get for a $20 bill and two hours. Video a seasoned secondhander on the hunt.

A few resellers, like Plato’s Closet, Play It Again Sports and Children’s Orchard, are corporate franchises. Many more are mom-and-pop. Check out Too Good To Be Threw, the commercial site of veteran thrift store owner and how-to author Kate Holmes. She’s so immersed in the lifestyle she’s also written a resale-themed murder mystery! Resale.net has lots of interesting grass-roots links, and The National Flea Market Association is a portal to casual and weekend resellers; again, conversations with these folks can lead to pithy insights into your local economy. The NFAA even offers a “Flea Finder” interactive map linking to market sites state-by-state.

The main difficulty in covering the secondhand economy is finding objective third parties to help with perspective. Most academic and bank analysts don’t bother tracking used-goods stores. One source of expert commentary is the professional group for what used to be called ‘home ec.’ The media relations staff at the American Association of Family and Consumer Sciences will help you find experts who can talk about consumer habits and trends in your area.

Come back to Your Daily Tipsheet each morning for advice on where to find sources, background and creative ways to make financial news and trends relevant to your audience.