In Ailing Economy, America Gets Thrifty

CBS Evening News: Americans Forced To Cut Costs Are Turning To Thrift Stores For Their Shopping

(CBS)  Out of the recent economic chaos, a quiet virtue is taking shape - thrift.

As the old saying goes, one person's trash is another's treasure. These days, there are more treasure hunters than ever before. As the economy tumbles, Americans are looking for ways to cut costs - and thrift stores fit the bill, reports CBS News correspondent Priya David.

"During this past year, the numbers have increased by 330,000," said Major Dennis Gensler of the Salvation Army. "That's a significant increase in the number of customers that are actually in our stores."

Maria Aiello is one of those thrift shoppers.

"I find all the bargains I can - second-hand clothes, second-hand anything," she said.

Hundreds of thousands of Americans now find themselves needing to live frugally. Here in the northeast, bargain hunters can pick up a garment at the Salvation Army for an average cost of $2.58.

The Salvation Army told CBS News that in many stores, sales have increased up to 20 percent in the past year.

And Winmark Corporation, the parent company to four thrift franchises including clothing store Plato's Closet, reported a jump in income of almost 50 percent.

At Manhattan's Memorial Sloane Kettering Thrift Ship in New York City, which caters to a well-heeled clientele. They've got thousand-dollar Chanel suits on sale, so business is brisk.

"This year has actually been excellent," said Anita Askienazy. "One of the better years since I've been here."

These earnings come in stark contrast to national retail sales, which were down 1.4 percent in September compared to last year as consumers shunned the malls.

One thrift shopper told CBS News she doesn't miss retail shopping.

"I bought a David Meister dress here that was from this year and it was $398 online and I got it for $8 and I wore it to a wedding on Sunday," she said.

But even busy thrift stores are finding it tough to stay in the black.

"Like everyone else, we're feeling the pinch of the economy," said Gensler. "Wages are continuing to rise and we try to be fair with our people and benefits costs are going up. So our expenses are actually growing faster than our store sales income."

"The donation flow becomes a barometer for tough economic times and what we're experiencing now is sales are up, donations are down," said Jim Gibbons, the CEO of Goodwill Industry International.

The trickle down effect - bad times, second hand.

[rgjmudbug]

TELL KATIE TO GO TO THE THRIFT STORE! THAT WHOULD BE SIGHT!

[rgjmudbug]

DON''T BUY A THING TELL THE STOCK MARKET WHERE TO GO! OUT THE WINDOW!SIT AT HOME,REAT A MOVIE, LOOK AT THE BALL-GAMES, READ A BOOK! YOU CAN READ?

[onarollagain]

Response to America gets thrifty while Sarah Palin buys her clothes and Nieman Marcus and Saks Fifth Avenue.

Who cares about the outward appearance or the fabric she wears....it''s the fiber of her soul that counts and she is one confident, intelligent, spunky, and honest women. Something you could never say about Hillary or Nancy.

[onarollagain]

More on Obama''s Redistribution of Wealth Position which he has held since at least 2001 - frightening

http://www.youtube.com/watch?v=iivL4c_3pck

[albertw40]

America gets thrifty while Sarah Palin buys her clothes and Nieman Marcus and Saks Fifth Avenue.

[Michael Arnold]

No store bought gifts for Christmas this year. Only baked & homemade ones.

After the 700 billion bailout, Wall Street has too much of my money.

Go to h--l, Main Street.

[panhandlpete]

Nine days left in the countdown.....

What happens to the fear factor when people are losing their jobs, their homes, their retirement pensions, and possibly their dreams for the future? Too bad we did not pull together, after 9/11, and sensibly avoided all this war mongering just for black gold! Would this financial meltdown now exist? Would our economy be in its present condition had our elected government representatives acted prudently to prevent loss of jobs to outsourcing, controlled the illegal population growth, and done oversight?

Having a veto-proof number in the Senate will keep the sitting President in check, but it does run the risk of the minority being totally ignored.

Thrift stores were not around where I grew up, but the memories linger of how exciting a bag of ''second hands'' brought cheers of happiness to neighborhood
kids. It is the tough times that bring out the best and the worst of us.

[zaniacloclo]

This election is not about the repoublican party versus the democratic party. It is going to be about how to get back to producing something of substance so that we do not have these fictitious bubles.The days of consumption are over. Now we need to go into days of production again.Whoever puts in place the right programs to make this happens will certainly help us get back on our feet. Unfortunately Obama is too focused on redistribution of wealth and not on wealth creation. That is his biggest downfall. And we will all pay for it dearly.. It takes 4 year to remove a bad president. 8 years if the country can not figure out where it needs to go.

[trillion1]

Our economy grew from the working American''s spending not the wealthy spending. Now that wages are at best stagnant and the basic cost of living has gone up average American''s have to find anyway they can to stretch their hard earned dollar. And look who congress gives over $700 billion to. If you vote for an incumbent you deserve more of the same.

[tannerbird]

Not to worry gas prices will not stay down.

[zaniacloclo]

So I ask again how does Obama plan to grow the economy. His vision is redistribution of wealth not growth... He certainly suffers from poor vision.
You do not grow things from the bottom up. Especially when what needs to change requires so much capital.
For those of you that have not voted you need to get up to speed on how do you grow an economy before you cast your vote.

[ybotheratall]

What''s so amusing is that these slaves to fashion spend $100 on a sweater that was made at the same table as ones costing $10. The workers just sew on a cheap label that says "Liz" or something else and they call it "designer". Hysterical.

Anyone who needs a name on their clothes is a snob. If you take the time to go through things at a Goodwill or other thrift store, you can often find gems. Try visiting a Goodwill near a snobby, rich area and you''ll hit a gold mine if you have to have a "name" on your clothes. I remember getting all my maternity dresses from Goodwill. They were all from "Pea in the Pod" and they were about $8 a piece. Too much.

[sparkbox]

Prices are going down because demand has fallen. As Companys sell less goods and services, they will soon be laying off employees in an attempt to remain in business. That''s where gmcnally2 should watch out.
Watch what happens during the first quarter of 2009.

[gmcnally2]

Is it just me, or did everyone just get a raise? Gas is less, energy is less, soon costs will be going down across the board as the media scares us into recession. Unless I lose my job, all my money is going father. Soon, I will be able to get out of the thrift stores.

[barbaram99]

i have met people that are to good to shop at lower price stores. They LOOK down at my old clothes. Are we geiiing thrifty..Alwaya in our household and have been for years. The COST of things go up but my check don''t. We learnt to take care of our things. I ''member a girl telling me she has to have the best or she won''t wear it. I said yes yer will wear a lower cost clothes as ye must wear clothes. When is the rich gonna feel it.

[stopsocialis]

StopSocialis, I have no idea what Islam has to do with thrift store shopping, but what a happy day it shall be when the likes of you are banished from these threads.
posted by VcofReason,


Sure VcofReason, just as soon as you eliminate the majority of the Christian-bashers from participating on these forums.

Number 2, I was responding to ANOTHER poster who decided to bring Israel into this discussion. And you''re infuriated that I''m allowed to speak out against this.

Grow up, and stop trying to silence free speech, jerk.

[stopsocialis]

The Democratic-Controlled Congress finally fixed the problems the RINOs and the Freakvangelicals caused and gas prices came down.


--------------------------------------------------------------------------------

Posted by FloydZeppt at 08:39 AM : Oct 26, 2008

Wow, you''re dumber than I previously thought.

[albertw40]

And of course, while America is shopping in thrift stores, Sarah Palin is spending $150,000 in October to buy her cloths at Nieman Marcus and Saks Fifth Avenue. She''s also paying a make-up artist ten thousand dollars a week (for at least the first two weeks of October). The greatest tragedy of this election is that McCain passed over all the GOP women qualified to serve as VP to pick Sarah Palin instead.

[wl7bzh]

Be advised some of the stuff that you donate to "religious" thrift stores get picked over by the employees who put their own price on the items and sell it to themselves.

I once donated a fairly decent computer desk to a well known religious thrift. The employee said "this is great". She promptly priced the desk at two dollars and sold it to herself-with me standing right there.

[vcofreason]

StopSocialis, I have no idea what Islam has to do with thrift store shopping, but what a happy day it shall be when the likes of you are banished from these threads.

These people are finding out what I''ve known all along; one man''s trash is another man''s treasure. Goodwill has gotten cocky in today''s economy. They are raising their prices as the people pour in. Those in charge of pricing should watch it. If something is $12 in your store and I can get it new somewhere else for $15, it''s no longer a ''bargain''.

For the most part, the stores offer excellent deals on quality merchandise. Now if they could just get that SMELL out of the store. Blech!