By Ruby Road Resale
Verde Valley AZ (April 15, 2015) – During the Great Recession consumers sought the most value for their money due to necessity, and the retail thrift and resale segment fit very well into what consumers were looking for. In fact, the segment actually added stores and jobs during the recession while conventional retail lost its footing.
Now that the economy has grown and unemployment is down, did thrift and resale stores continue their momentum during the upturn? The answer is a resounding yes! The segment continued to grow due in part to the cultural behavioral shift that took place in the recession; in other words, consumers learned new behaviors.
In fact, the National Association of Resale and Thrift Shops (NARTS) reports that resale businesses, which include both thrift shops and consignment stores, represent one of the fastest-growing segments of the retail industry.
According to America’s Research Group, about 16-18 percent of Americans will shop at a thrift and consignment resale shops during a given year, which is competitive with conventional retail stores. The Great Recession taught consumers to be value shoppers, and the lessons have stayed with them.