Rich Couples

In the high-end resale market is Boulder, Colorado, entrepreneur Margaret Miner. She started Rags Consignments in 1995, specializing in designer handbags and clothing that her customers are eager to buy at a discount. With annual sales of about $1.3 million, keeping up with growth is her main challenge. “When we first started, there were a lot of women who would walk in [to consign their items] but wouldn’t [shop],” recalls Miner, 46. “Now those same women have tuned in to it.” Her customers run the gamut from teenage girls to women in their 60s.

The advent of Craigslist and eBay, which were once expected to destroy the brick-and-mortar resale industry, has actually boosted local resale shops by turning shoppers on to the variety of gently used items available, says Meyer. Hot and growing niches in resale include furniture, specialty apparel (like plus sizes, teens and men), sporting goods, music and computer-related items. Meyer predicts that resale will continue to grow, especially as the economy slows. “This is a recession-proof industry,” says Meyer. “If anything, this industry increases during slow economic times. People who may not have shopped resale before have to find a way to save money somewhere.”

Read the full article here

source Entrepreneur