Sales Surge At City Thrift Stores
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While many people these days are cutting back, those who still need furniture, housewares, and clothing are turning to thrift stores more than ever.
At Housing Works, a thrift store whose proceeds benefit those living with HIV/AIDS, business is booming.
"We are running up at 10 percent for the last six months, which is exciting given the retail climate in general," says Housing Works Thrift Shops President Richard Vorisek.
Before the holidays, Vorisek says inventory was increasing – with everyone looking to unload their goods to get a tax break for 2008. Now that inventory is up for grabs at rock-bottom prices.
"We often have great bargains and to stimulate business, we often have sales," he says. "So, for example, last week we had 50 percent off all apparel and accessories, and today we have $5 shoe deals in Chelsea. So we continuously try to stimulate business."
Shopping at Housing Works is not only a good deal, but also a good deed – helping others hit hard by the economy stay afloat.
"Our parent organization Housing Works takes care of New York men women and children living with HIV," explains Vorisek. "The thrift stores generate about 25 percent of the overall revenue and, thus, the biggest piece of the pie. It's very important that we continue to do well because our clients are the ones that get hit the hardest during this tough economic time."
The Angel Street Thrift Shop in Chelsea is also seeing a boost in business during what would normally be a quiet time. Managers at Angel, which benefits the Lower East Side Service Foundation, say the increase in revenue is really helping their cause.
"Business is good because the more dollars spent here in the store means more proceeds going to our beneficiaries, which help people with substance abuse treatment and prevention, mental health and HIV and AIDS issues," says Robert Starkoff, president of Angel Street Thrift Store. "It's great for everyone. It's a win-win; great for the customer because they get good bargains and great finds, great for us because we are raising money for our beneficiary. These shops offer a win-win, but during these tough times donations are dwindling. People are holding on to things longer, and that could slow business in the months ahead."
Starkoff says donations have declined in quality and quantity.
Managers of both shops are urging people who have stuff they no longer need to bring it in, so others can load up on bargains and good will.