Thrift shops thrive amid economic downturn

The two largest U.S. charitable resale organizations, The Salvation Army and Goodwill Industries International, reported year-to-date sales increases of 6 percent to 15 percent, a likely reflection of American worries about the state of the economy. The gains are even more pronounced in the private sector. In an industry trade group survey of more than 200 resale and thrift shops, nearly two-thirds of those businesses reported higher sales in 2008 compared to the previous year. The average sales increase: 35 percent. Consumers "can't change the price of gas. They can't change the price of food. They can't make the stock market go up again," said Adele Meyer, executive director of the National Association of Resale & Thrift Shops. "But they can control the price of clothes and furniture by being a savvy shopper." The Salvation... [read full story]                    

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