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|Articles - December 2010|
|Wednesday, November 17, 2010|
Page 4 of 6Consumers are looking for deals
The same trend that has businesses hunting for bargains also applies to consumers. They want to spend less but they don’t necessarily want to give up on quality. As a result clothing consignment shops such as Here We Go Again in Portland are doing more business than ever. Owner Chris Gauger saw an immediate rise in both buyers and sellers when the bottom fell out of the economy in September 2008, and her nine-employee, two-store business has grown steadily since, enabling a series of upgrades and investments.
“When the economy went down we started seeing people who never would have thought of consigning before,” she says. “People started asking themselves, ‘Do I really need three or four handbags?’”
With all the new merchandise flowing in from new sellers, Gauger was able to be extremely selective in her purchases. She estimates she turns away 80% of the clothes she gets offered, buying only the top brands in great condition. She is able to offer up-scale clothing for about half what it costs new, splitting the proceeds 50-50 with consigners. She estimates she writes about 500 checks to consigners per month. On a busy day her staff will bring in 50 to 100 new items selected from hundreds of offerings.
With sales picking up in both stores, Gauger moved to invest. She rebranded the business with a new logo, upgraded her in-store technology, improved her online presence by marketing through Twitter and Facebook and buying a space on the deal-of-the-day website Groupon, and organized a successful bus tour of the consignment stores of Portland on Super Bowl Sunday. She also managed to sprint through a low-budget, high-impact remodel at her store just off SW Macadam Boulevard without losing any store days.
First she did the painting herself with help from staff. Then she convinced her landlord to let her set up a short-term pop-up store in a nearby vacant space so she wouldn’t have to close for remodeling. She and her staff wheeled all the merchandise over into the temporary space in a single night and got the new space up and running for the next business day. While employees worked out of the temporary space, workers for the Portland-based contractor Interworks remodeled the store to improve the lighting and ambience. The project took a mere 12 days and cost less than $20,000. Gauger plans to remodel her store on Northeast Broadway next.
Gauger, a slim, energetic woman with a master’s degree in dance, was in a stressful position as the economy dropped off. She had just expanded into a second store, and recently had been diagnosed with breast cancer. Now both stores are doing great and her cancer is in remission. She finished the 5K Susan B. Komen Race for the Cure in Portland in less than 30 minutes.
The recession brought a whole new supply of customers that she has worked hard to win over, and the powerful national trend toward living simpler and greener plays into her industry nicely. “People want better stuff, and less of it,” she says. “We see that every day.”
Tuesday, July 01, 2014
BY HANNAH WALLACE | OB BLOGGER
Demand for organic food continues to soar: Last year, sales of organic food rose to $32.3 billion — up 10% from 2012. In Oregon, organic produce wholesaler Organically Grown Co. has been championing organic growing methods for four decades.
Thursday, July 03, 2014
BY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS
The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.
Thursday, July 10, 2014
BY TOM COX | OB BLOGGER
Tom Cox interviews Dr. Mark Goulston, author of Just Listen, Discover the Secret to Getting Through to Absolutely Anyone.
Wednesday, July 02, 2014
BY JESSICA RIDGWAY | OB WEB EDITOR
Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.
Thursday, July 24, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
With the increasing retirements of Baby Boomers, a massive real estate shift has created a significant increase in demand for NNN properties. The result? Increased demand has triggered higher prices and lower yields.
Friday, July 18, 2014
BY JASON NORRIS | OB GUEST CONTRIBUTOR
Back in May, we shared a common Wall Street quote about investing, “Sell in May and go away.” Fast forward to July and the most common question we have been getting from clients is, “When is the market pullback going to occur?”
Monday, July 14, 2014
BY VIVIAN MCINERNY | OB BLOGGER
Some people think Amazon’s winking eye logo is starting to look like a hoodwink.
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