One of the greatest challenges we have in the thrift store world is the pricing of things and this is especially true in the age of the internet. I can google a brand name plus the word “price” and find a wide range of prices depending on location, condition, and availability of an item. At Urban Thrift we have taken a proactive approach to a finding a fair price for the items we sell and we want to share our philosophy with you, our loyal customers. This post may be long…but it’s worth the read.
Let’s use a women’s blouse as an example of our pricing thought process. Depending on the item’s brand, we will find it’s average new retail price then price it about 20-30% less than that depending on the condition of the item. If it’s a popular, high quality brand name item in excellent condition we will price it a bit on the higher end of the scale to reflect the current market value. If it’s a great piece that’s really fashionable, but the brand is unheard of we will price that item a little lower.
The blouse starts its Urban Thrift journey priced with the current full colour tag. After about 7 days the price will be reduced by rotating the tag colour into our 15% price discount range. This process continues each week that the blouse hasn’t found the perfect home until the item gets into the 50% off range. So, a blouse that hits the floor at $10.99 is then only $5.49 after a few weeks and this goes on everyday, all year long. We’re not inflating our prices so we can have a ridiculous 50% off sale that makes our prices seem low in comparison; we’re pricing our items so that everyone gets a fair deal.
We don’t need to run a sale very often because a lot of our items are already discounted every week. It saves an already busy person time and money whenever you come in knowing that the item will be high quality, priced reasonably, and continuously marked down.
We scrutinize our clothing closely so only the best quality items ever make it out to the showroom floor. Our motto is “secondhand doesn’t mean second rate” and we stand by that philosophy. Did you know will even wash and press some items if they are great pieces but just need a little TLC? That’s not the norm in the thrift store world, but it’s something we do at Urban Thrift all the time.
Our tracked sales show that the average adult clothing item at Urban Thrift sells for $4.00 and childs is $1.25. So while the savings are sometimes deceiving and not reflected in the price on the tag, we try to sneak a deal in wherever we can. Like our “friends with benefits” coupons for our email list and Facebook fan base. It’s our way of saying thanks.
So there you have it folks, Urban Thrifts pricing structure in a nutshell. Do we make mistakes absolutely, but we really try hard to give our shoppers consistently high quality items at fair prices in a boutique-like atmosphere. If you ever have any questions or concerns please contact us. Thanks for being a fan of Urban Thrift, Calgary’s Premier Thrift Store!
We post a Cheap Chic image a few times a day, highlighting great fashions that won’t break the bank.