Best Practices
•Merchandise - access to quality products that’s in style attracts new shoppers and keeps them coming back. Nonprofit thrift stores should focus their efforts on their supporters for the best possible donations.
•Pricing - If merchandise is the cake, pricing is the frosting. Keep prices in the "impulse price" range. Fair and consistent pricing is critical as it will attract both people who need lower prices and those who enjoy a bargain or treasure hunt.
•Location - store needs to
be near to population centers of your targeted customer, consider locations in close proximity to colleges, schools and with other good thrift stores. However, a good location doesn't make up for store problems like poor merchandise and high prices.
•Inventory - too much inventory stacking up in the storage area may be a sign that prices are too high. And if sales racks are empty and the backroom is overflowing, then the handling of donations in the backroom need to be overhauled. An overflowing backroom sends the message to donors that the store doesn’t need their donation.
•Advertising - traditional advertising – newspaper, radio, and television ads -is cost-prohibitive. Instead social media is increasing important, a strong Facebook page generates word-of-mouth buzz for the store. Craiglist is good too. Nonprofit thrift stores should explore partnerships with local churches and other community minded organizations.