While most retail stores are hanging by a thread due to the COVID-19 attack on the US economy, thrift stores, and specifically consignment stores, are facing the opposite problem; Business is booming! According to thredUP.com, a major shopping website, the market for resale clothing will grow from $28 billion to $64 billion in the next five years.
A consignment store is a type of resale store where people bring in items they want to sell in the secondary market rather than relying on donations. When selling items, the store and seller participate in the sale, often in a 50-50 ratio. Consignment stores sell clothing, household goods, arts, furniture, and even books. However, clothing is the most popular category.