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.

Taking the Temperature of Tourism

Even though the calendar says it’s been summer for less than a month, we’re about halfway through “fiscal summer” – the vacation and tourism season that runs from Memorial Day weekend through Labor Day.

This midway point is a logical moment to do a checkup on the travel and tourism business in your state or region. And even though by most accounts the weather and the economy are conspiring in 2009 against a blockbuster season, a tourism story is hard to beat for a lively and engaging business read.

They’re also good opportunities to incorporate multimedia features – like video or a slide show – into your Web presentation. Interact with your audience by asking your Web editor to post a survey (“How much are you spending on vacations this year?”) with the story, or a showcase for readers’ own travel photos. Perhaps a weather outlook graphic or a map of road construction projects would be a good fit, depending on your angle. Bring your stay-at-home reader into the experience with a camera’s-eye view from a new thrill ride or tour of a cheese-making plant.

Sources abound. Generally, you’ll want to start with your state statistics office to get a feel for how large the industry looms in your territory. (And rest assured there is some angle – not every region can boast Disneyworld but someone, somehow in your neck of the woods depends on travelers for part of his or her livelihood.) This directory of government Web sites includes links to all of the state tourism offices; while aimed primarily at consumers, most feature a media page with contact information, FAQs and economic impact figures. The visitor info will provide you with leads on attractions you can call for input, from state parks to motorsports tracks to tribal casinos. Each state’s AAA branch keeps tabs of tourism activity, too.

Other voices you’ll want to hear from are as diverse as vacation-rental managers, local motel franchisees, campgrounds operators, chambers of commerce, RV sales and rental dealers, marinas, tour guides, bars and boutiques. You may want to home in on one sector, if it’s huge in your area, but try to avoid the trap of the perfunctory annual “boat sales” story if that’s commonplace to your readers. Find something quirky and off the beaten track instead. Festivals.com offers a fascinating 40,000-strong list of gatherings and shows; sign up at the site to sort by date and locale for events in your area.

And of course, get out there and talk to tourists, whether they’re on a full-time road trip or area residents splashing away a day at the water park. Ask what they’re spending on, what they’re scrimping on and how their leisure budget stacks up this year compared to previous seasons.

Anecdotes are appealing, but keep in mind that most industry representatives will put a positive spin on even the most dismal season. Make sure you probe for hard numbers. Don’t overlook the financial performance of publicly traded travel and leisure companies headquartered or having a large influence in your area. If you’re not sure, here’s link to MarketWatch Inc.’s tracking site for the Dow Jones Travel and Leisure index, which will point you to major players. The companies’ investor relations Web sites generally will post a list of industry analysts you can call for comment. While some analysts are guarded in discussing specific stocks, many will give you an overview of this year’s seasonal ups and downs.

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.