My online friend Jack Schultz has a great newsletter. Here’s the Archive. He’s a voice for small town America and the small business owner.
I will be posting some of his comments.
Here’s one… Discount Retail is thriving:
Everyone’s eating lower on the food chain these days. Consumer spending is down more than 30 percent from this time last year, to an average of $57 a day, according to a Gallup poll. And even those who can still afford to spend are beset by “luxury shame,” which means high-end retailers are out, and discount shopping is in. Wal-Mart’s earnings increased more than 5 percent this year, while Neiman Marcus reported a 14.8 percent drop in sales. And the dollar store? Long the domain of low-income shoppers and random cheapskates, dollar stores are doing brisk business with the middle class. Family Dollar saw record net income in 2009. It jumped 25 percent, to $291.3 million.
Another hand-me-down from the weak economy: Resale shops. In 2009, secondhand shops increased revenue by $223.3 million, according to IbisWorld. The National Association of Resale Professionals reports that secondhand stores had an average 31 percent increase in business this year. Uptown Cheapskate–a fledgling fashion-centric resale exchange franchise–opened two locations this year, with four more on the way.
I can tell you that since 2008, our area has seen 4 new “Dollar General” stores start up! Their business is booming.
Do you have any skills, contact, or experience that would help you make money by reselling previously used goods at a profit?
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