Sunday, February 12, 2017

Consignment Shops - Should They Reassess?


A few months ago I was browsing (what else is new) one of the very famous consignment shops near my office, when I ran into the Founder of the chain.  Think he eventually went public, but still has his hand in the business.  He and I got to chatting (what else is new) discussing the past, present and future of consignment shops.  If any of you know me, you of course know that I am not shy about voicing my very (friendly) strong opinions, so it was off the the races.

Him - so you've been a customer since the 70's??

Me - yes, I have purchased and sold lots here.  My favorite locations are......

Him - what do you think of our new branding etc...(they have elevated their status to high end only and made their space more spare.)

Me-  Well, it's nice.  Then we chatted about history etc of shopping these places.

Me- Are stores such as H&M/Zara hurting your business?

Him - (pretty insulted) no of course not..we are different.

Me - thinking, ok for the same $$ I can go down the street and get a new sweater without moth holes in it.  Not very high end, but in tact nonetheless.

Me - passing by this store every day at lunch...empty.  I don't know what their numbers are but I see a seismic change in this space

Sure, there are some bargains, but the less high stuff brought me in as a customer.  To peruse, to watch, to buy.

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