Thrifty business: The recession proved a boon for the industry, but recovery has constricted growth
Thrift Stores As a result of growing consumer spending and demand for methods for sustainable consumption, Thrift Stores industry revenue has increased. Historically, the industry has relied on customers who shop for secondhand goods out of necessity. However, thrift stores are increasingly catering to a wide variety of customers who are seeking unique items, high quality goods at lower prices or to reduce their carbon footprint by recycling clothing and other goods. Growing disposable income and consumer spending has also benefited the industry by increasing the number and size of purchases at industry establishments. However, the industry will likely continue to contend with rising external competition from traditional retailers, for-profit thrift stores and online secondhand goods retailers.
This industry is composed of stores that sell (mostly donated) used goods, with the intent of donating a significant portion of their proceeds to charity. This industry is a subcategory of the Used Goods Stores industry (IBISWorld report 45331), but excludes consignment shops, antiques shops, rare books stores, used records stores and other resale shops that do not allocate a significant portion of their revenue to charitable activities.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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