Retail Takes Downturn, Second Hand Booms

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March 10, 2008 by Nicholas | 1 Comment

CNN:

Unlike most retailers who are blaming the economy for their poor sales, one store chain is boldly declaring that an economic downturn can actually be a boon for its business.Taylor Bond, CEO of Children’s Orchard, sounds excited about the next 10 months and beyond.

“Recycling has become more acceptable today among consumers because of the ‘green’ trend,” Bond said. “A shaky economy is making us attractive to everyone across the income spectrum. We have people pulling up to our stores in Mercedes as well as in trucks.”

“Many parents will shift from a Macy’s to Target (TGT, Fortune 500) for children’s clothing. Off-price retailers like TJ Maxx also stand to benefit,” he said.

“Recycle, reduce, renew. Those are the trends we’ll see in how people shop this year,” Johnson said. “Any well-run retailer, whether its a reseller or not, that knows what its customers want and offers good value will do well.”