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Archive for the ‘economics of resale’ Category

The difference between thriving resale shops and those struggling

Posted in economics of resale, Shopkeeping talk on February 26, 2009| 7 Comments »

While most resale and consignment an2009feb26outofbusinessd thrift shops have been seeing more shoppers and more gross sales* what with the recent economic woes, there are some belly-aching. They complain that their shoppers have stopped shopping, that their clientele is losing their jobs right and left, that “no one is buying.”

Well, that might be 100% true.

Their current, historic, customer could well be hurting, and the lack of sales from this segment of the community could be drastic. But what of those 90% of shoppers in every community who have never, or seldom, shopped resale?

The key to whether a resaler is doing well or not (more…)

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There’s nothing on my fridge

Posted in economics of resale, Shopkeeping talk on January 27, 2009| 6 Comments »

In my never-ending quest to help you make sense of our fluctuating economy vis-a-vis the resale, consignment, thrift business world, I thought I’d share with you, today, my puzzlement as I wandered around the house eating my breakfast yogurt.

2009jan27refrigerator

There is nothing on my refrigerator.

Now you must understand, I live in a marketplace where real estate used to be red-hot, all anyone talked about, for years. My fridge was plastered with calendars, recipe postcards, calendars-of-events, all nicely magnetized so’s to hang at eye level, right where I’d be most likely to see them: on the front of my Kelvinator.

All of these (more…)

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Keeping your “regular shoppers” regular

Posted in economics of resale, Shopkeeping talk on January 26, 2009| 1 Comment »

No, it doesn’t involve gift packets of Metamucil with each purchase. It DOES, however, mean paying attention to all the little things that keeps a loyal customer loyal. To do everything you can to RETAIN your regulars, while also increasing the reach of your shop to potential new clients.

Recently on Sharing, several Sharers expressed excitement at the idea of sending their clients a birthday card.  A greeting card is such a little thing. A postcard’s even littler. But it’s a way to keep your regulars coming in and to increase their satisfaction with your shop.

Other Sharers are treating their regulars to a taste of resort and cruise wear in this month’s Swing Shop and reporting increased enthusiasm in a traditionally slow shopping period. That would be a great broadcast email message…or a postcard.bdypcard Giving a loyal customer an extra punch on her Frequent Buyer Card  “because you came out in 10-degree weather!”…another easy way to keep your regulars regular.

There are many more ideas for keeping your consignment or resale shop in the minds of your most loyal customers, and more ideas that will turn occasional shoppers into regulars, in each and every Product for the Professional Resaler.

Statistics say that a mere 5 percent increase in customer retention translates into a 25-100 percent increase in profits.

That means, if you can entice one of of 20 regulars to come in today, and another tomorrow, and so on, you can look at some healthy cash flow growth. Isn’t that better than sitting around praying for a customer to come in?

So now, when it’s slow at the shop and maybe gray and gloomy outside, is a good time to read about and think about how to keep your everyday folks… every day shoppers.

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Recession’s GOOD for Resale

Posted in economics of resale, Shopkeeping talk on January 20, 2009| 3 Comments »

logoladyorangesmallYet another reason to be optimistic about the prospects for resale in a recession. Not only are cost-conscious shoppers discovering that the gently-used market has great deals for great prices, but now the true strength of consignment, resale, and even thrift shops comes to the forefront:

Selection!

Years ago, one of my best ad approaches (best = pulled in the most (more…)

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Is now a good time to open a consignment shop?

Posted in economics of resale, Shopkeeping talk, tagged , , on January 19, 2009| 2 Comments »

I get asked “Is now a good time to open a consignment or resale shop?” a lot.

Setting aside the current kerfuffle about CPSIA and its making basically everything that people 12 and under use or wear economically impossible to resell, and looking  optimistically forward to the sensible voiding and rewriting of this well-intended law…

090119tgtbtcloseupWhether now’s a good time to start a secondhand store has more to do with YOU than with the economy.

Are you ready (more…)

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