The low prices of thrift stores are clearly a draw during tighter economic times. Re-sale and thrift stores say their sales are booming. But even without challenging financial situations, owners of thrift stores say their business is essentially recession-proof. They say everyone loves a good bargain, so they're always busy.
One of the favorite parts of thrifting is finding high-end brands that are gently used, or sometimes even new with the tags still attached. Prices in second hand shops are often 25% (or even less) than the retail price of the goods. And don't think that the store owners aren't making money. I work with a second hand furniture store that has great profit margins on their stuff!
Check out this video for more from thrift shop owners and shoppers..
Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.
Second time around in vogue again