Industry Analysis & Industry Trends
The Second-Hand Goods Stores industry appears to be thriving in the face of economic turmoil in the United Kingdom. Higher unemployment, low consumer confidence and falling disposable incomes are driving consumers to seek out bargains to stretch their pounds further. The market for second-hand items grew strongly over 2008-09 as the reality of the global financial crisis hit consumers. Revenue has remained high since then.
The industry has faced growing competition from value stores including Primark, H&M and TKMaxx, and supermarkets, which often sell new clothing at prices as cheap as that offered by second-hand stores. The low price of new goods has also depressed prices of goods offered by the industry, cutting revenue growth... purchase to read more
Industry Report - Industry Products Chapter
Clothing and accessories are among the primary purchases for second-hand shoppers, accounting for 41.8% of sales revenue in 2011-12. These product segments cater for children, men and women and include items such as skirts, dresses, trousers, knitwear, shirts, pullovers, shorts, coats, shoes, handbags, ties, hats and scarves.
A number of trends influence sales of clothing and accessories. Firstly, it is likely the recent recession led to an increase in number of shoppers with less disposable income who are more likely to trade down their clothing retail purchases in favour of second-hand goods to save money... purchase to read more