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Archive for the ‘economics of resale’ Category

Giving away the farm, err, store

Posted in economics of resale, Shopkeeping talk, tagged , on December 7, 2012| 4 Comments »

Confused consignment customer cowThought I’d send along this email received from a consignment shopkeeper. The email is from a while back, but I thought you’d like to see it, after the “price slashing” some businesses did for the Thanksgiving weekend.

Hope you don’t recognize yourself in it.

Hey Kate,
Thought I’d send you this for blog inspiration. I have a competitor who opened 6 weeks ago. Initially I gave her some general advice about the children’s market in [our city], etc. Obviously, she didn’t hear a word I said. In fact, when she read on a local online forum that shoppers found her store “too expensive” she posted that all they had to do was ask for a discount because she wanted to make sure everyone could afford her products.
Anyway, here’s the text from her latest ad, about her grand opening weekend.

All Weekend
Strollers 20% off
All Clothing 25 % off
Accessories 10 % off
Fancy dresses 60% off
Discount rack 50% off
Baby bottles 20-50% off

Friday Blow Out Specials!!
Tommy Hilfiger 40% off
Crib sets and accessories 40% off
Pink chicken dresses 30% off

Saturday Blowout Specials!!
Tommy Hilfiger 40% off
Snowsuits 20% off
Fall jackets 35% off

Monday Blowout Specials!!
All footwear 10-50% off
Diaper bags 20% off
Yoga wear 35% off
Cloth diapers and accessories 30% off

Thanks for sending this example in to me here on the Auntie Kate blog. As a shopper, I’d be thinking Wow! I’m AFRAID to shop there… ’cause

I’d be a chump for buying it today when, obviously, it’ll be cheaper tomorrow.

And as a consignment consultant, my reaction is

How’s that for giving away the store?

Even if such a shop were “splitting” the price reduction with their consignors (not a practice I recommend), there will be little to zero profit in selling like this… and great damage to the shop’s reputation for fair pricing either.

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Banding together: Little Boxes in Portland

Posted in economics of resale, Shopkeeping talk, tagged , on November 23, 2012|

Little Boxes promotion for independent retailersMark this site for a great idea that you can use to promote your neighboring consignment, resale and thrift stores and all the small businesses in your market area. Study it good…

Little Boxes.

As they say:

Shopping in Portland’s Little Boxes on Black Friday and Saturday (and throughout the holiday season) is an alternative to the hubbub of the big box stores. It’s a great way to find unique gifts for everyone on your list, enjoy the hospitality and warmth of Portland’s independently owned neighborhood shops, have fun with your family and friends, and–just maybe–win some pretty incredible prizes, just by taking a stroll in Portland’s best shopping districts.

(I’ve bolded and italicized their reasons to patronize local and independent retailers.)

They show you not only the WIIFM, but make it fun.

Now isn’t that more enticing than some command to “Shop Small Business”? Examine first, the appeal to shoppers (’cause that’s what it’s all about, right?) Then mull over the framework behind the idea and how it will affect your shop and your fellow merchants. How could your area do something similar?

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Even 20-to-30 year olds don’t like math.

Posted in economics of resale, Shopkeeping talk, tagged , , , on October 3, 2012| 11 Comments »

Express, the 600-store chain that caters to 20-to-30 year old men and women, had a dismal showing in this past quarter, financial news reports.

Why is that of interest (more…)

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Why we do this. Do your shoppers KNOW?

Posted in economics of resale, Shopkeeping talk, tagged , , on September 18, 2012| 5 Comments »

It’s obvious to you,

the NFP resale shopkeeper, manager, and staff. It should be obvious to your customers and donors as well. I mean, it says “Serving those in need” or “Exodus House” on your signs, right, and that says it all,

Why We Do This,

doesn’t it?

Non profit thrift stores need to tell their shoppers why the shop is there!Well, no. Just like a restaurant frames its reviews, and a for-profit consignment or resale shop has its Brag Wall of professional affiliations and thank-you letters from clothing or household pantries, so a nonprofit thrift store needs to give its supporters as many reasons to support the store as you possibly can.

This is one universal that I have come across in each and every consultation I have done with nonprofit thrift stores: they don’t use the reason why the store exists to

build the base of the business.

In every case, I give the strong recommendation that they make a point of showing shoppers and suppliers just why the store exists.

Banners tell the story about the services this NFP thrift store helps fundEven as well-known as Salvation Army or Goodwill or St. Vincent de Paul stores are, do their customers realize what the stores help finance? I’d be willing to bet my best thrift-store treasure that the answer is “no, they don’t know everything we do to help the community.”

The photos here show how beautifully and effectively this can be done. TheResaleShop of the National Council of Jewish Women sponsors a wide range of charities, and they’re not shy about putting that information out there. On the soffits. On colorful banners flanking an entry. As a well-lit backdrop for a display area.

The story of their good works serves as a backdrop for this thrift store's displaysAnd don’t you think that this knowledge would

build donations,

inspire more sales,

and maybe even build loyalty

(and less price-quibbling!) to your business?

Click the pictures to see in more detail.

Tell us by commenting below: how, where, and how often does your thrift store educate its customers and donors about “why we do this”? Or do you think the retail operation should stand on its own merits? Maybe your customers just don’t care… all they want is bargains?

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Back-to-school time applies to TGtbT Manual too!

Posted in economics of resale, Shopkeeping talk, tagged , , , on September 17, 2012|

Too Good to be Threw is the best-selling operations manual for resale and consignment shopsEvery September, TGtbT.com sees an uptick in (more…)

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