LAS VEGAS (KLAS) — People are turning to local thrift stores in order to combat the rising cost of goods. According to one research study, the second-hand market is projected to double in the next five years and become a 77-billion dollar industry. But could it also see increased prices as a result of inflation?
Bryan Stewart from Goodwill of Southern Nevada says that inflation hasn’t been a factor for them, because the only major cost of operation for the company involve staffing and occupation of space. When it comes to staffing, Goodwill, like many other companies, faces challenges with hiring and retention.
“Some of that is due to good turnover. We welcome people who are getting a start in the workplace, need immediate work, or a second chance.” Stewart told us.
The company prides itself on employing people with major barriers like minimal work skills, no high school diploma, or a disabilities. Across the valley, Goodwill has 16 retail operations, a clearance section, four attended donation stores, and an online store. It employees about eight hundred people.
Stewart says the company is maintaining operations efficiently, so they don’t pass along price increases to their customers. Over the last twelve months, they haven’t increased their prices for the core items, such as clothing. The last price hike at Goodwill for clothing occurred in 2019, and was only an increase of about ten percent.
“Obviously we’re running an operation and there will be increases over time,” says Stewart, “But compared to what we’re all dealing with, in terms of inflationary pressures, that’s quite minimal.”
Revenues collected from the sale of donated goods fuel goodwill’s workforce development programs.