Charity Shops Reports Bumper Profits as Credit Crunch Crisis Continues

It seems as times get hard people are turning to charity shops as a way of beating the credit crunch. The profits of the top charity shops rose 7.4% to a total of £106.7m over the past year, in stark contrast to falls across the rest of the retail sector.

Recent figures from the British Retail Consortium show that retail sales values were down almost 1% from July 2008.

"Trading conditions, as for all retailing, are now extremely tough, however, evidence from previous slowdowns is that charity shops are well placed to weather economic storms as cash-strapped consumers turn to them for value for money. If charity shops continue to respond to consumer needs, then they are well-placed to come out of this downturn in a good position."
David Moir, Association of Charity Shops

Not that I frequent charity shops, but we can all look on the positive side, charity shops often make use of the stuff we would otherwise throw away, sending straight to landfill. Whilst I'm sure not everything recieved can be found a loving new home, most can, whether it be retro chic 1980's attire or used CD's, DVDs, games or jigsaws, its recycling. Could the economic crisis also yeild even more vintage and quality second hand clothes stores?

Related Articles
Where Does Our Waste Go?
Recycle Your Clothes
Green Gift Ideas