Recession is not a downturn for second hand stores

 While the financial crisis has an adverse impact on the largest retailers in the United States smaller merchants that occupy the second hand market niche are reportedly flourishing as many Americans are seeking to save their money and thus avail themselves of available bargains.

According to the August reports of the National Association of Resale & Thrift Shops (NARTS), the sales of its members in the second quarter of 2009 increased above the previous year. It reported that of the 263 stores that responded, 64.1% said their sales were up – with an average increase of about 31% - and 11% said sales were about the same and 24.4% reported decline in their sales.

Half Price Books, a Dallas-based privately-held business, that mostly trades and sells used books and magazines, reported sales increase and is determined to open more stores. During this year it has already opened four new stores. Thus at the moment it owns 106 stores in 16 states.

"We are buying more books than ever before so people are selling ... It started last year with people coming in and selling books for gas money," said Kathy Doyle Thomas, executive vice president for marketing and real estate.

"I think people are okay with buying used ... it is also part of the growing culture of recycling," said Doyle Thomas.

While numerous retailers across the country are closing their stores as the downturn prompts Americans to think twice before they shop Half Price Books enjoyed a 6% increase in its sales during last fiscal year (July 1-June 30) to around $200 million in same store sales and a 10% increase for total sales including the new stores.