The retail industry has experienced a surprising surge in the past few years. Although many brands predicted slipping numbers at the beginning of the pandemic, The Guardian recently reported sales had still increased markedly.
It turned out that consumers spent on retail since they had some extra income with stimulus checks and avoided spending money on things like travel. However, traditional retailers are experiencing significant supply chain issues. The spread of new variants in places such as factories also continues to spell uncertainty and frustration for major retailers.
Business owners looking to invest in a retail franchise would be wise to steer away from traditional retail. Winmark® resale franchises provide an attractive alternative since this subset of the retail industry doesn’t rely on manufacturing; it sources its product from the local communities in which its stores are located. There’s no need to go the standard retail and manufacturing route to meet consumer needs when it’s resale that’s taking off.
In 2022, Resale Franchises Will Continue to Excel Over Traditional Retail
Business owners and investors may be hoping that 2022 will show a turnaround in supply chain issues, but it seems unlikely. With the advent of the Omicron variant, working conditions remain challenging in factories and throughout the supply chain. As a result, it’ll be an uphill battle every step of the way for struggling retail giants.
Winmark takes the necessity for costly manufacturing off the table entirely. Our franchisees never have to wait on delayed shipments just so they can run their business. Likewise, their customers never have to wonder if they’ll have items in stock.
Winmark’s brands have flourished throughout multiple economic crises, in large part due to their inherent sustainability practices. For us, being conscientious of our impact on the environment has far-reaching effects: resale reduces waste and pollution, making the future more feasible for our business as well as the planet. Sustainable resale business isn’t just good for the environment; it also makes resale a safe bet for business owners who can meet their customers’ needs while making the world a better place.
Although the supply chain crisis may have been difficult to predict, it’s proved to be another contributing factor to our mission to recycle, reuse and reduce. Sustainability is not just our mission. It’s our competitive edge.
Resale Franchises Pave the Way to a Bright Future
The resale industry is projected to hit $53 billion by 2023. Mainstream retailers struggle to keep prices down, while resale franchises welcome the increasing demand with open arms and plenty of supply to meet demand. Forrester has reported that resale is growing faster than the retail industry is at this point, with no signs of slowing down.
The beauty of resale’s trendiness is that there’s no issue with fulfilling the clamoring demand for more. Winmark’s resale franchises allow consumers to shop eco-friendly while also making high-quality used clothing, instruments and sports gear more accessible to consumers who can’t afford or prefer not to shop mainstream retail options. It also means consumers can turn to Winmark franchises instead of dealing with the frustration of traditional retail embroiled in supply chain disruption.
Winmark has been here since 1988, so we’ve weathered our share of economic upheavals, and in fact, grown and thrived when other retail brands have struggled. Resale is an investment in the future, one that keeps quality used items from being thrown out only to depend on new items being shipped from afar. Instead, the success of Winmark’s franchises is living proof that resale is the future of retail.
Interested in the retail franchise of the future? Read more about the future of the resale industry here!