Resale still the way to go for dressing room deals
By Kate Musselwhite
Experts say clothes will be more expensive any day now thanks to a spike in cotton prices. Consumer spending might be inching its way back up, Americans are still looking for deals in the dressing room.
A new report shows that resale is the fastest growing segment of the clothing industry, making it a multi-billion dollar business. Consignment sales have been increasing steadily for the past few years and new consignment shops are popping up all over the country at an impressive rate – including right here in the D.C. area.
Reported, photographed and produced by Kate Musselwhite
According to a survey by the National Association of Resale Professionals (NARTS), consignment sales have been strong for the past five years, with significant jumps in the past two.
While other segments of the retail industry have been seeing a decline in sales, NARTS reports a renewed consumer commitment to resale that’s resulting in consignment stores opening around the country at a higher rate than in previous years. NARTS says many unemployed people and charities are turning to consignment as a way to make extra cash, and experts say they expect the resale boom to continue in 2011.