Spring cleaning equals cash for savvy families
Consignment sales and retailers offer convenient ways for parents to recoup the costs of outgrown children's clothing and toys.
It's time for spring cleaning and many parents may be looking for ways to turn their children's outgrown clothing and toys into cash.
Resale is a $13 billion industry, according to The Association of Resale Professionals, and the children's consignment business is growing in Oklahoma City — with a new Once Upon A Child store and several twice-yearly consignment sales that continue to increase in popularity, both with consignors and shoppers.
The average family has $1,318 worth of kids clothing that can be resold, according to a survey by thredUP, a children's clothing resale website. More than 350,000 items were resold on the site last year and sellers earned a total of $800,000.
Certain brands and items retain more value than others, according to a recently published survey by thredUP. TOMS, Mr. Men & Little Miss, Matilda Jane, Gucci and Pink Chicken are highly sought after brands.
High-quality staples like jeans and dresses better retain value, the survey found.
Bargain brands like Carter's earn an average of $1.36 per item, Gymboree returns an average of $4.76. Premium brands like Hanna Andersson bring in about $6.88 and designer brands like Burberry earn sellers an average of $10.20.
Consigning is a convenient way to earn money, says Lori Forrest, who owns the Once Upon A Child franchise at 13801 N Pennsylvania Ave., which opened in October.
“It's easy,” she said. “You bring it in and we sort through it. You don't have to hassle with Craigslist or garage sales.”
Sellers are offered cash on the spot for gently used children's clothing, shoes, toys and baby equipment; payments could range from $20 to $300, Forrest said.
Item prices are standard franchisewide and vary based on brand, size and condition of the item.
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