Saturday, March 15, 2008
Turning Tough Economic Times into Big Sales
Some retailers are seizing an economic downturn as an opportunity to increase business. Rather than blaming a recession for poor sales, some businesses appear to be doing quite well. Children's Orchard stores sell "gently used" kids clothing from brand name stores such as GAPKIDS, Gymboree, Tommy Hilfiger Kids and Ralph Lauren and took in $20 million in sales, up 5% from the previous year according to this article. The CEO of the company attributes this to a number of factors including a greater acceptance of recycling because of the 'green' trend.