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Used Merchandise Stores
First Research, April 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The used merchandise stores industry in the US includes about 25,000 stores with combined annual revenue of about $16 billion. Major companies include Goodwill, The Salvation Army, Savers, and Winmark. The industry is highly fragmented: the 50 largest companies account for about 25 percent of industry sales.
The industry includes resale shops, consignment shops, thrift shops, and antique stores. Excluded are stores that sell used cars, boats, trailers, and mobile homes. Pawn shops, which sell a variety of used merchandise but generate most of their revenue from interest and fees on loans, are discussed in this profile but not included in store count, revenue, or employment statistics.
COMPETITIVE LANDSCAPE
Population demographics, consumer income, and consumer tastes drive demand. The profitability of individual companies depends on efficient procurement and effective merchandising. Large companies have advantages in marketing and finance. Small companies can compete effectively by offering specialty products, serving a local market, or providing superior customer service. The industry is labor-intensive: average annual revenue per worker is about $120,000.
Used merchandise stores compete with retailers offering new merchandise. Companies also compete with individuals selling used merchandise privately or through websites, such as eBay or Craigslist, or product swapping through services like Freecycle.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products include used clothing (about 25 percent of sales); antiques (13 percent); used furniture and collectibles (10 percent each); and used books and jewelry (7 percent each). Pawn shops generate revenue from short-term loans and...
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