Consignment, Resale or Thrift? What's the difference?

CONSIGNMENT STORE: a store that generally accepts clothing, toys, furniture and baby equipment on consignment with a certain percentage amount There is a defined consignment period (generally 90 days), consignors are paid on the 8th day after their items sell. At the end of the consignment consignors can pick up unsold items at this time or they can be donated. Consignors can shop on their CONSIGNMENT MONEY as soon as items begin to sell in their account. Inventory is kept by computer consignment store designed software and money is automatically put into the consignor's account each time one of their items is sold. The consignor can make EVEN MORE MONEY when they choose FULL STORE CREDIT and shop with their consignment money "IN THE STORE" for added BONUS MONEY.

 

RESALE STORE: A store that buys items outright for a lump sum amount (generally 10%-15% of what they will sell it for) and re-sells the items for the store's profit. This works well if you want to dump a lot of clothing at one time, get a smaller amount of cash upfront and willing to forego a greater profit that you would generally make if you consigned your items and waited the 90 day period to get paid. Items in resale may be sold at a cheaper price because their profit margin is much higher than a consignment store. This is due to buying outright upfront at a much lower than selling value cost. Example: Once upon a child

 

THRIFT STORE: Generally a non-profit organization that sells donated items at a low cost. They have no guidelines in accept items because they simply rely on donations to get their inventory; therefore, items should be scrutinized for age, stains, holes, rips, and missing buttons when shopping at a thrift store. Examples in our area are: Salvation Army, Goodwill.