Lexington, KY - Necessity is the mother of invention, or so the saying goes. One of the silver linings of a challenging economy is the inevitable creativity and innovations it fosters. When trying to cover everything on this year's Christmas list, in addition to mainstream retail, you might want to check out what's available from the world of resale, a growing genre on the shopping scene.
Statistics are supporting what appears to be a boom in business for all things secondhand, recycled and repurposed. Businesses that specialize in such things have sprung up and are thriving all over the country, and Lexington is no exception. Locally, there are many businesses in this growing segment of retail shops offering pre-owned items, from clothes to furniture and from books to boots. Terms such as "gently used," "vintage," "repurposed" and "upscale resale" are common in the industry and are quickly becoming familiar to the shopping public.
The trend has spun off into the world of television as well. More than a dozen shows feature some form of resale or restorative repurposing. Shows such as American Pickers from the History Channel feature resale professionals finding success in the world of "everything old is new again." Other shows such as Auction Kings and Pawn Stars celebrate the market for pre-owned. whether it is an antique, a piece of history, a collectible or just an item on its second or third owner. The number of popular shows featuring resale seems to be at least partially fueling the explosion in the industry. The trend fits well also with the green movement, as it embraces recycling and reuse.
Jeff Perkins, who along with Greg Feeney owns the store Scout on Liberty Road, said he thinks it is important to fill a niche. He mainly carries mid-century modern furniture but also art and accessories for the home that he acquires from consignors and from buying trips where he keeps an eye out for rare finds.
"We are very atypical," Perkins said. "We try to carry unusual, unique items you can't find just anywhere. We try to keep a funky edge. We get our merchandise from all over the country, and we sell to designers, home owners, college students, restaurants and businesses. When we're out and about, we see things that sold from our shop all over the place. It's fun."
Perkins noted that the two-and-a-half-year-old shop opened during the economic crisis but was a hit right off the bat.
"We had to hire staff to help out, and we are open seven days a week to keep up," said Perkins.
He added that creativity is key. "We also host special events at the shop with food and music. We even have book signings," he said.
Brenda Moreland jumped into the resale game long before the trend when she opened her shop, Sassy Fox, 20 years ago on Richmond Road.
"It just makes sense," Moreland said, referring to the need to make shopping dollars go further. Her inventory is quality, gently used women's clothing in a wide variety of styles and sizes and includes shoes, bags, jewelry and accessories, along with formals and bridal wear. She and her daughter have opened a second location in Louisville in their first expansion.
"Business is good. I can't really say the economic downturn changed things dramatically since we have had steady growth all along. We definitely see more consignments coming in and a rise in the number of shoppers, but people have always wanted quality at a bargain, and we provide that. For a lot of shoppers, the hunt is part of the fun. We love to help people find the perfect thing," said Moreland.
Apres Vous, on Moore Drive, is a designer-focused shop carrying women's clothing and devotes whole areas of the sales floor to specific designer collections. It carries an impressive array of furs and designer handbags, all offered at a fraction of their original prices. The store also carries men's and children's clothes. "When you've got to stretch a buck, you might as well do it in style," said Barbara Semple, store manager.
Apres Vous's owner, Connie Broomhall, who also owns the two Stephen Lawrence resale clothing stores here in Lexington, agrees.
"I hope everyone understands that resale shops are good for the local economy and keep money here in our town," she said.
Today's successful resale shop, regardless of merchandise, goes to great lengths to offer items in a clean, well-organized, "boutique-style" atmosphere.
"The stigma is gone. We hope you can't tell the difference between our shop and any other mainstream, retail clothing store," said Semple. Broomhall added that her shops keep an inventory of new jewelry and accessories to compliment the clothes with fresh trends and looks.
When times are such that even Santa has had some layoffs, the need for resale has never been greater. Everyone can cut back on nonessentials when money is tight, but people still need good professional work clothes and household essentials. Children will outgrow clothes at an alarming rate no matter what the stock market is doing.
The National Association of Resale and Thrift Stores, or NARTS, the largest organization of resale professionals, reports that resale is a multibillion-dollar industry. That's billion, not million. Goodwill, one of a number of nonprofits that run resale shops to raise money for their programs, reported that the tally from their 2,500 stores, nationwide, was $2.69 billion in sales in 2010.
The NARTS study reported growth in net sales of 12.7 percent for 2010, with strong growth reported for five years prior and regular retail reporting far lower and more volatile results. A separate survey they conducted showed respondents reporting more shoppers, more consigners, better quality consignments and new demo-graphics opening up in their customer base.
Another interesting trend in the industry is "clustering." Some resale shops have found strength and success in opening up in close proximity. Scout is located next door to Room Service, a secondhand furniture store with 9,000 square feet of furniture and decorative accessories for the home. Both are in the neighborhood of Cowgirl's Attic, located nearby on Delaware and well-known as a shop specializing in everything from architectural salvage and vintage dÈcor items to garden accents and ornaments.
"We are each reaching a little different audience, so it works to everyone's advantage to attract more shoppers with choices," noted Perkins.
Over on Moore Drive, Apres Vous is the neighbor of Street Scene, a shop with a wide variety of items with a hip vibe that run the gamut from table and barware to artistically repurposed furniture to vintage clothing and jewelry to kitchen items and many more eclectic surprises. A little further down the way is Roomingdales resale furniture, and another neighbor is Re-Kid, a successful resale chain specializing in all things for children. This type of clustering creates a feeling of being a shopping destination and a resale epicenter. Similar to the familiar cluster shopping experience of an outlet mall, shoppers can park their cars and experience an extensive variety of shopping for the avid bargain hunter within a short walk.
Many of Lexington's shops report they turn over their entire inventory approximately every 30 to 90 days. Each shop has their own policy on how their consignment arrangements work. Some allow items to stay only 30 days before they must be sold or picked up to make room for fresh merchandise. Many will keep merchandise for a maximum of 90 days and mark the price down 10 percent each month. If an item does not sell, consignors often have the option of donating their items to a local charity. Some shop owners buy things outright and some only consign, while others use a combination approach. When the items are consigned and they sell, the shop takes a commission of anywhere from 30 percent to 50 percent. Most Lexington resale shops have websites and Facebook pages that spell out their individual terms and give details on their featured merchandise.