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    Thriftstore

    Uploaded by

    Seb Gonzales
    introduction

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Thriftstore

    Uploaded by

    Seb Gonzales
    20 views3 pages
    introduction

    Original Title

    (Thriftstore)

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    © © All Rights Reserved

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    PDF, TXT or read online from Scribd

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    introduction

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    20 views3 pages

    Thriftstore

    Uploaded by

    Seb Gonzales
    introduction

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    INTRODUCTION

    Thrift stores are significant centers for secondhand shopping and social welfare. They
    are often referred to as charity or opportunity (op) shops. They are frequently run by non-profit
    organizations and offer chances for people to work, volunteer, and purchase locally and on
    expanding online marketplaces for used products. In this article, we acknowledge the potential
    of thrift shops to aid community and environmental initiatives while also highlighting some of the
    critiques and difficulties they encounter as a result of the intricate local and global secondhand
    markets. Challenges include the declining quality of contributions, while criticisms have focused
    on increasingly professionalized, profit-driven retail operations and the employment of a
    volunteer workforce (older people) for sorting items in an unsaleable condition.
    One of the simplest ways to draw in plenty of people is by having reasonably priced
    things available. Ukay-Ukay is available everywhere in the world and is currently the most
    well-liked, especially among consumers who enjoy budget-friendly goods. Customers who want
    to buy anything but are unable to do so only visit thrift stores to purchase the item they believe
    they will use for a long time at a reasonable price and in good shape. Other researchers' studies
    have also revealed that while many thrift store consumers do so for financial reasons, there has
    recently been an upsurge in customers who are fashion aware and are searching for "unique
    pieces" rather than price points (Zaman, 2020).
    As far as clothing is concerned, thrift stores accounted for more than 70% of all
    second-hand retail store revenues in 2018 (Thredup, 2019), dominating the second-hand sector
    together with resale shops.

    Marketing strategy is a critical component of organizational success. It is just as crucial


    to execute a successful marketing plan as it is to conceptualize and create it. Firms use finite
    resources through marketing capabilities to achieve established goals and targets through
    marketing plan implementation.
    It is an important component of running a business since it has a direct impact on the
    outcome and results of firm performance. Coordination of business initiatives is important when
    eliminating interference and optimizing corporate earnings since one aspect of a marketing
    strategy impacts all of the others. In a nutshell, a company should be constantly developing new
    products while taking into account the product life cycle (PLC)- the product element is the new
    product itself, getting the price right involves examining customer perceptions and rival products
    as well as manufacturing costs; promotion involves engaging in a variety of promotional
    activities such as competitions, product tastings, and so on; and place involves using the best
    possible channels of distribution.
    A marketing mix is a collection of marketing strategies used by businesses to continually
    persuade customers to purchase products or services in order to fulfill company goals in the
    target market (Naninsih & Hardiyono, 2019).
    Marketing strategy is an important component to consider when luring customers to
    make purchases. Incorrect marketing strategy implementation has an influence on business
    continuity. You must first understand more about the thrift shop sector, your target clients, and
    your competitors before you can sell and advertise your items. In addition to reading trade
    publications and books about the retail and thrift store industries, you may acquire your own
    knowledge by conducting surveys and focus groups and observing people who shop at thrift
    stores. With this information, you may create a description of your target consumer, including
    their age, gender, lifestyle, geographic area, and income.
    The marketing plan will guarantee that every product and pricing are a good match. The
    store's owner has a thorough and precise strategy for the sale in order to avoid losing money.
    These sorts of construction sites should be visible to a large number of people. Inside stores,
    large and small, should be more intriguing. A better examination of various approaches is
    required to adequately prepare for doing business. The inclusion of stores will also aid in
    attracting more consumers, allowing the store to thrive. To build consumer loyalty, a company
    must provide good items, even if they are inexpensive.

    Thus, the researchers will seek to conduct this study to know the marketing strategies
    adopted by thrift stores to attract customers in selected municipalities in Cavite. The researchers
    chose this study because they aim to know more about secondhand shopping and how they use
    the marketing strategies to market their business.

    REFERENCES:

    ● Podkalicka, A., & Duque, M. (2021). Thrift Stores. The Blackwell Encyclopedia of

    Sociology, 1–2. https://doi.org/10.1002/9781405165518.wbeost064.pub2

    ● Raulli, J. A. (2011). Thrift stores. The Blackwell Encyclopedia of Sociology.

    https://doi.org/10.1002/9781405165518.wbeost064

    ● Ma, C., & Riggio, G. (2021). An Examination of the Effects on Low-Income Communities

    by the “Takeover” of Thrift Store Clothing by Resellers . Journal of Student Research,

    10(2). https://doi.org/10.47611/jsrhs.v10i2.1784

    ● Park, H., Kwon, T., Zaman, M., & Song, S. H. (2020). Thrift shopping for clothes:

    To treat self or others? Journal of Global Fashion Marketing, 11(1), 56–70.

    https://doi.org/10.1080/20932685.2019.1684831

    ● Saif, N. M. A., & Aimin, W. (2014). Exploring the Value and Process of Marketing

    Strategy: Review of literature. International Journal of Management Science and

    Business Administration.

    https://doi.org/10.18775/ijmsba.1849-5664-5419.2014.22.1001
    ● https://smallbusiness.chron.com/thrift-store-marketing-plan-14146.html

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