Resale retailer Second Time Around, which operates 40 stores across the country, is planning to double its store count by 2017. The consignment company is also rebranding itself as 2nd Time Around and launching e-commerce in the third or fourth quarter.
The company wants to put six to eight new stores in Manhattan, which already has 10 units, Women's Wear Daily reported. With stores mostly in the East, the focus will also be on Chicago, Miami and moving into the West.
The average 2nd Time Around store is 1,250 to 1,500 sq. ft. in size, and top stores sell between $1.5 million and $1.8 million annually.
The stores now sport a new logo that is fresh and less thrifty. The brand is meant to reflect more than a typical thrift store. To make consigning easier, 2nd Time Around will offer pickup services, and consignors are able to track their sales in real time.
The company also has a call to action button on its social media channels, which account for 10 to 20 percent of all sales. The new e-commerce site will be mobile first, desktop second.
Resale and consignment stores are growing in popularity among U.S. shoppers. Earlier this year, Plato's Closet and Once Upon A Child, both resale stores, made Entrepreneur Magazine's Franchise 500 List. In the 36th annual rankings, these two retailers nabbed the No. 108 and No. 140 spots overall. Even more, online consignment shop Tradesy was recently awarded another $30 million investment, led by Kleiner Perkins, just eight months after Kleiner led a group that gave $13 million to the startup.
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