'Guest Blogger Michael Stoler: Resale Stores Growing, Especially Upscale Stores' #Retail Read more:
Throughout the nation there are many thrift shops selling used clothing, furniture and other personal properties. These stores can be found in urban neighborhoods, retail strip shopping centers and other venues.
As opposed to the idea of “thrift” many people are now purchasing upscale clothing at consignment retailers. Consignment shopping is now chic and growing by the consumer and the retail locations. As reported in Forbes, upscale consignment shops offer mostly “gently used” designer clothes and accessories that the original purchaser no longer wants (or, perhaps, fits into). The consignor traditionally gets 30% to 40% of the sale price, with the shop keeping the rest, although online consignment services now offer sellers a larger cut.
Earlier this year Time Out Magazine listed its top ten upscale consignment stores in New York City, which is presented below:
Buffalo Exchange, four locations in five boroughs, Williamsburg, Cobble Hill, East Village & Chelsea
Columbia U Consignment, 52 Tiemann Place, between Broadway and Claremont Avenue
Eleven Consignment Boutique, 70 Fifth Avenue, between Bergen Street & St. Marks Place, Brooklyn
Eva Gentry Consignment, 371 Atlantic Avenue, between Bond and Hoyt Streets, Brooklyn
Ina, five locations, with its biggest and newest in Chelsea, 207 West 18thStreet, between 7th & 8th Avenue
NYC Consignment, 22 Jones Street, between Bleecker and West 4th Street
Tokio 7, 83 East 7th Street, between First and Second Avenues
Trunk Show Designer Consignment, 275-277 West 113th Street, between Adam Clayton Powell Jr. Boulevard (Seventh Avenue) and Frederick Douglass Boulevard, (Eighth Avenue)
Second Time Around, with almost 40 stores in 12 states from Maine to Florida, the power player in consignment business, and eleven locations in Manhattan and a store in Forest Hills, Queens.
Second Time Around, headquartered in Boston, the country’s largest consignment retailer of designer clothing and accessories, this summer open its second store in Long Island in Port Washington, after open its first location six months ago in Huntington.
In July, the company opened its newest location in the Stuyvesant Town neighborhood, a 1,200 square foot store located at 334 First Avenue.
Now a $13 billion industry, consignment shops are visited each year by almost 15 percent of all Americans, according to the Association of Resale Professionals. By comparison, 11.4 percent of Americans shop in factory outlet malls, 19.6 percent in retail apparel stores and 21.3 percent in major department stores.