In the world of fashion, you’ll likely hear the term “consignment shops.” What are they exactly, and what do they offer?
Consignment shops are typically confused with thrift stores, mainly because they both sell second-hand merchandise. They differ in many ways, however. For one, the term “consignment” itself is a good benchmark—it denotes a shop which sells goods for an owner. People who consign items to such a shop keep their ownership of the items intact until the latter sells. Thrift stores, on the other hand, usually sell merchandise that is donated and all the profits either end up in the thrift store or go to charities.
If you’re looking to make a few bucks from your old clothes and accessories, consignment shops can help you. Before you do business with them, though, you must ensure that you know how they do things. Some shops set their own terms on how their consignments work. Upon visiting the store, your items will sport an identification code to know which account gets credit for the sale.
Most of the time, the profit split between the shop and the item seller is either an even 50/50 or 60/40, with the higher percentage going to the shop. Bargain hunters are among the most avid consignment shop visitors, since the items sold are often decent and come with great deals. It’s also not uncommon for consignment shops to carry otherwise pricey designer goods for a fraction of the original cost.