Iowa thrift stores do record business during inflation


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CEDAR RAPIDS, Iowa (KCRG) – As inflation continues to influence companies throughout the nation, some thrift shops in Iowa are reporting a growth in enterprise as households search for methods to save lots of.

Shaun Clasen was at Fashion Encore Sunday afternoon trying to find a great thrift retailer discover.

“I prefer to cease out right here about as soon as a month and simply try the offers and see if there’s any little gems of issues I can take with me,” Clasen mentioned.

Clasen enjoys purchasing, however she’s at all times holding her price range in thoughts.

“I don’t prefer to spend cash,” Clasen mentioned. “I’m very frugal.”

Clasen mentioned she had thrifted earlier than inflation made headlines within the wake of the pandemic, however she added that she and her household have undoubtedly made modifications as costs have gone up.

“We’re slicing again on some non-essentials at house,” Clasen mentioned. “We undoubtedly have reduce on eating out as a lot.”

Final week, the Federal Reserve raised its short-term borrowing rate another 0.75% to fight inflation, the fourth fee hike of the 12 months. As inflation continues, some native thrift shops are seeing report numbers.

“I feel it was like, in Could or June— it was one in every of our greatest months, like, that we’ve ever been open,” Joelle Crawley, with Fashion Encore, mentioned.

“Final October was the very best October we’ve had in our historical past of our retailer ever,” Kristy Flack, with Stuff, And many others., mentioned.

Crawley mentioned that on a slower day, Fashion Encore has about 20 individuals are available to commerce previous objects for money.

“Inside this final month, we’ve been seeing like 40 buys a day,” Crawley mentioned.

It’s not simply thrift shops reporting information. A current analysis from the House Committee on Oversight and Reform mentioned transport, rental automobile, meat processing, and oil and fuel industries have raked in record-breaking earnings.

“Latest financial research and the Subcommittee’s evaluation of company monetary data show that sure company pricing selections have performed a key function in increasing company revenue margins and driving inflation, which was already elevated because of provide chain disruptions attributable to the pandemic, Russia’s unjustified and unlawful warfare in Ukraine, and different components.”

In the course of the pressure of upper costs, thrifting at the very least provides a strategy to benefit from the luxurious of purchasing and not using a excessive price ticket.

“I feel we’re all trying to make the {dollars} that we make stretch additional,” Clasen mentioned.

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