The resale market, including secondhand shops, is growing 24 times faster than traditional retail

National Thrift Shop Day, celebrated on August 17th, is all about supporting local thrift shops and raising awareness for charities. Thrift shops aim to help the most vulnerable in the community and give back to those in need. Known by countless other names, thrift shops are also referred to as consignment shops, second hand shops, resale shops and hospice shops. Volunteers willing to help usually work in the shops and often sort through donated items that people drop off. These used pieces are then sold to the public, providing a convenient service to those in need at an affordable price!

• 18th century – Before second-hand shopping became common, people usually liked to repurpose their clothes. The 18th century saw the emergence of many new ways to use old items.
• 19th Century – Towards the end of the 19th century, the United States experienced a massive cultural shift. The Industrial Revolution increased the production of clothing and goods, while the pursuit of the American Dream led to increased immigration.
• 1879: The Salvation Army comes to the USA
• 1902: Goodwill Industries is founded in Boston.
• 1919: The term “second-hand shop” is coined.
• 1920s – Thrift stores mirrored the department stores of the time in the 1920s. The initial impression began to change after thrift stores were no longer known as “junk shops.”
• 1935 – There were nearly 100 Goodwill stores nationwide, providing relief during the hard times the country was going through.
• 1974: Buffalo Exchange opens its first store in Tucson, Arizona.
• 1984 – NARTS – The Association of Resale Professionals. Founded in 1984. Noticed an increase in second hand stores.
• 1995 – eBay and Craigslist are founded
• 2000 – At a garage sale in 2000, a painter from Fresno, California, discovered images of Yosemite National Park on glass plates with old photo negatives. After some negotiation, Rick Norsigian bought the lot for $45. He suspected the images were from famous nature photographer Ansel Adams, so Norsigian asked some experts. CNN reported that his find was potentially worth more than $200 million.
• 2006: An item found in a thrift store in Nashville, Tennessee for $2.48 turned out to be a copy of the Declaration of Independence. Sold for $477,650
• 2009: thredUP is founded – an online secondhand shop for women’s and children’s clothing.
• 2011: The RealReal and Poshmark are founded to resell luxury goods and as a peer-to-peer social networking resale platform, respectively.
• 2012 – Rapper Macklemore’s song “Thrift Shop” reached number 1 on the Billboard charts in 2012.
• In 2015, Zach Norris paid $5.99 for a watch at Goodwill in Phoenix. The watch later turned out to be a rare 1959 Jaeger-LeCoultre Deep Sea Alarm. It sold for $35,000.
• 2018 – A bargain hunter purchased a blue and white teapot for $20 at an online auction. It turned out to be one of the first pieces of porcelain made in America. It was the work of John Bartlam, a well-known artisan nearly 250 years ago. Although the teapot was broken, it sold for about $806,000 at an auction in 2018.
• The average consumer spends $52 per month at thrift stores.
• Thrift stores in the United States receive approximately 14.3 million donations each year.
• The resale market, including secondhand stores, is growing 24 times faster than traditional retail.
• Approximately 12-15% of clothing sold in the United States comes from secondhand stores.
• Typically, charities run the stores to raise money for the charity designated by the organization. The organization may also use some of the items to help others get back on their feet after a disaster or during difficult times.
• A thrift shop goes by many different names! These include charity shops, second-hand shops, resale shops, consignment shops and hospice shops.
• Clothing, furniture and home goods are great finds, along with other hidden treasures, in thrift stores across the country.
• For some, shopping at a thrift store isn’t even about the price (that’s just a bonus!), but rather the adventure of finding vintage and antique items.
• Renovating on a budget – Frugal shoppers know that styles come and go. Find what you want at the thrift store.
• Dress for less – No matter the occasion, #CelebrateEveryDay with styles galore!
• Improve your budget – By saving money by shopping secondhand, you have more money left for more important things.
• Expand your library – books of all kinds find their way into second-hand shops.
• All clothes you purchase should be washed before wearing (except for items that require dry cleaning).
• There are things you should not buy in a second-hand store. Here is a list of 40 things you should never buy at a thrift store.
• The Great Depression and World War II made thrift stores a more affordable alternative to full-price stores. People liked the idea of ​​finding vintage and niche items at thrift stores, and since then the negative image of the thrift store has steadily improved.
• While there is no “perfect” day to shop at thrift stores, many regulars swear by shopping early on Monday and Tuesday. Homeowners tend to drop off leftovers from garage sales on Sunday nights!
• Thrift comes from the Old Norse word “prift,” which means “prosperity.”
• The number of second-hand stores has grown by 7% annually over the past two years; there are now over 25,000 stores in the United States.
• About 16–18% of all Americans shop at thrift stores each year, and 12–15% shop at consignment or resale stores.
• There are more than 25,000 consignment, resale and non-profit stores in the used goods industry in the United States, demonstrating that many of these stores offer high-quality goods at prices far lower than the suggested retail price.
• 18- to 24-year-olds are the most frequent customers in second-hand shops; 40% of them visit a second-hand shop every month.
• The average American throws away 21 pounds of clothing per year.
• The average price for an item in a thrift store is $4.
• The average American buys 70% more clothing today than they did 20 years ago.
• 51% of U.S. consumers expect to purchase secondhand items in the next five years.
• Baby boomers account for 50% of all spending in secondhand and thrift stores.
• Millennials are the largest demographic that shops at thrift stores.
• By 2033, 30% of wardrobes will consist of second-hand or used items.

Sources:

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