She’s inspecting the red Doncaster blazer with a puzzled expression, and sighs, “oh what do you think? Trying on is my least favorite thing…” I’m thinking she’s the owner of the Lexus parked out front the thrift store, and I say, “How could you go wrong, it’s Doncaster, and it’s on the dollar rack!” Another costumer chirps, “And if it doesn’t fit just donate it back here!” Suddenly Lexus gal grins broadly, slaps me on the back, and says “thanks for helping with that decision”. She buys it. This scenario captures the thrill of thrift store bargains.
Dollar racks, half price Saturdays, dollar day Mondays, and “stuff- a- bag” are all examples of crafty Thrift Store marketing certain to draw a crowd and to turn over merchandise. Rosie P. had the pleasure of attending a Black Friday thrift store sale where they were giving purses, bags, and children’s toys away for FREE. Everything else in the entire store was half price. This non-profit moved inventory that day!
Along with these “specials”, standard pricing should be low enough to guarantee a steady inventory turn over. Many dedicated “thrifters” will often visit a favorite store at least once a week; if inventory remains stagnant the store risks losing its client base.
We consider Goodwill Stores to have a fair and workable model for pricing. Goodwill doubles the price if an item is new with tags still attached; example, dresses are normally $5 but you can expect to pay $10 for one with tags. Not a problem when the tag says $89.99 --that is one to write home about.
A recent visit to a local non profit thrift store set off alarms. The store was selling brand new jeans with tags attached for over $30. Yes, we want to see this non profit succeed, but those prices simply do not reflect what avid thrifters are willing to pay. Someone in this organization would do better putting the jeans on Ebay if this is a firm price. Most prices are firm at thrift stores. Very few will allow you to barter and many post signs that address this exact issue next to the checkout..
The Rosie Philosophy: Price according to what most people will pay. Single plates should be priced no more than $1 and silverware no more than a quarter for each piece. Coffee makers abound so to move them quickly don’t overprice. Top price for electric coffee grinders should not exceed $2. Cast iron cookware is always considered a special find, but if you are a non profit thrift store, please don’t try to sell for antique booth prices. Shoes cost $3.50 and linens are anywhere from .25 for a cloth napkin to $8 for a comforter.
Books generally move best if priced $1 for hardback and no more than fifty cents for paperback. The local library sells books on tape for $1 each which is a suggested price match. We all know that VHS tapes are dinosaurs; let them go cheaply. DVD’s can be expected to move quickly if priced around $2. Used music CD’s are usually $2 as well.
Some collectors are searching for vintage vinyl records, and this is why they visit your store. If you jack up the price to mirror that of a flea market booth these treasures may not sell; again suggest that you sell these on Ebay if you want a premium price, but keep in mind that if customers can’t find treasures in thrift stores then the base of “regulars” will slowly erode. Goodwill prices their vinyl for $1 a record whether that be a Christmas Album by Johnnie Mathis or a Rolling Stones album in mint condition. They price to sell.
It should be noted that there ARE some Thrift Stores that present as “boutique”. This is great as long as costumers plan for this price difference in advance. Many thrifters would choose to shop at a “boutique” thrift store for special occasion items. Enchanted Forest in Asheville is one such store as it stocks a variety of gently used FLAX, and we know that there is a “boutique” Salvation Army store in Greensboro.
We invite Rosebuds to respond to this blog. Tell us about some of your favorite stores and the marketing deals that they use to move merchandise. Some of you have firsthand experience in the pricing realm, we would welcome your feedback. As always, happy hunting!
Dollar racks, half price Saturdays, dollar day Mondays, and “stuff- a- bag” are all examples of crafty Thrift Store marketing certain to draw a crowd and to turn over merchandise. Rosie P. had the pleasure of attending a Black Friday thrift store sale where they were giving purses, bags, and children’s toys away for FREE. Everything else in the entire store was half price. This non-profit moved inventory that day!
Along with these “specials”, standard pricing should be low enough to guarantee a steady inventory turn over. Many dedicated “thrifters” will often visit a favorite store at least once a week; if inventory remains stagnant the store risks losing its client base.
We consider Goodwill Stores to have a fair and workable model for pricing. Goodwill doubles the price if an item is new with tags still attached; example, dresses are normally $5 but you can expect to pay $10 for one with tags. Not a problem when the tag says $89.99 --that is one to write home about.
A recent visit to a local non profit thrift store set off alarms. The store was selling brand new jeans with tags attached for over $30. Yes, we want to see this non profit succeed, but those prices simply do not reflect what avid thrifters are willing to pay. Someone in this organization would do better putting the jeans on Ebay if this is a firm price. Most prices are firm at thrift stores. Very few will allow you to barter and many post signs that address this exact issue next to the checkout..
The Rosie Philosophy: Price according to what most people will pay. Single plates should be priced no more than $1 and silverware no more than a quarter for each piece. Coffee makers abound so to move them quickly don’t overprice. Top price for electric coffee grinders should not exceed $2. Cast iron cookware is always considered a special find, but if you are a non profit thrift store, please don’t try to sell for antique booth prices. Shoes cost $3.50 and linens are anywhere from .25 for a cloth napkin to $8 for a comforter.
Books generally move best if priced $1 for hardback and no more than fifty cents for paperback. The local library sells books on tape for $1 each which is a suggested price match. We all know that VHS tapes are dinosaurs; let them go cheaply. DVD’s can be expected to move quickly if priced around $2. Used music CD’s are usually $2 as well.
Some collectors are searching for vintage vinyl records, and this is why they visit your store. If you jack up the price to mirror that of a flea market booth these treasures may not sell; again suggest that you sell these on Ebay if you want a premium price, but keep in mind that if customers can’t find treasures in thrift stores then the base of “regulars” will slowly erode. Goodwill prices their vinyl for $1 a record whether that be a Christmas Album by Johnnie Mathis or a Rolling Stones album in mint condition. They price to sell.
It should be noted that there ARE some Thrift Stores that present as “boutique”. This is great as long as costumers plan for this price difference in advance. Many thrifters would choose to shop at a “boutique” thrift store for special occasion items. Enchanted Forest in Asheville is one such store as it stocks a variety of gently used FLAX, and we know that there is a “boutique” Salvation Army store in Greensboro.
We invite Rosebuds to respond to this blog. Tell us about some of your favorite stores and the marketing deals that they use to move merchandise. Some of you have firsthand experience in the pricing realm, we would welcome your feedback. As always, happy hunting!
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