The high end clothing store business is booming, and the new breed of clothing retailer is the latest target for online shoppers looking for high-quality clothes at great prices.
Consignment stores are a growing category of retailing businesses, with the latest additions coming from companies like REno, Rezonate and Kidswear, who recently opened their first stores in the Brisbane suburb of Reno, and Brooklyn, which recently opened a new store in Brisbane’s west.
While the vast majority of consignment shops operate online, they are also opening their doors in the wider community.
Consigners like REnow, who have been around for over 20 years, are one of the fastest growing retailers in the Australian retail industry, with sales exceeding $3 billion for the year ending December 31, according to the Australian Bureau of Statistics.
They have also developed their own online store, REnowShop, which is able to accept orders for clothing and accessories from buyers of all sizes.
Consigning shops in Queensland are a relatively new phenomenon.
But they have been on the rise in recent years, and are now the second fastest growing industry in Queensland, behind retail.
“It’s definitely a bit of a boom period for Queensland, as the economy has been in the toilet for a few years,” said Rebecca McPherson, senior manager of sales and marketing at REnow.
“I think it’s just because of the online shopping that we have, as well as the internet, as we are now getting the opportunity to have people come in and pick out a lot of clothes and accessories that they wouldn’t otherwise have.”
As a result, there are a lot more consignment store locations in Queensland than ever before, with REnow opening stores in Wynnum and Mount Isa, and REnowStore opening stores at Repton in the Sunshine Coast.
“The consignment chain is here to stay and to become more established,” Ms McPherson said.
“We are always looking for ways to expand our stores, and our retail stores have been really well supported by REnow’s customers.”
Ms McPhesons said REnow was also growing rapidly in Queensland and was already looking at expanding further in the state.
“This is the fastest-growing consignment business in the world,” she said.”[Consignors] are finding it very easy to get access to our products.”
They are very easy, because they can choose to go to our website or our app, which allows them to get into our store and pick their item up and then put it on their shopping cart.
“Consigning shop owners like Ms McPshesons say the popularity of online shopping is an advantage for the businesses.”
Consignments are growing as a way of being able to reach new people,” she explained.”
With online shopping you are able to see what your current customers are buying and then be able to pick up a little more and add it to your cart and pick up more of the things that they want.
“You are getting into a new market for clothing, so we really like that, and we’re just hoping to keep that going.”
Consignment store owners are able take advantage of this trend in many ways, Ms Mcphersons said.
“Consignment shopping is a lot like shopping in the physical world.
You can go in and see what you’re buying and buy it.
We have stores, but we also have a range of other online options, like our app and our website.”
Ms Phersons also said REno had seen a surge in business recently, which was attributed to the popularity and ease of use of the app.
“When you’re online, you’re able to have all of your items on your shopping cart, but if you don’t have the items in your cart, then you can’t make a purchase,” she advised.
“So we really wanted to be able and enable people to be more engaged with the consignment process.”
For REno founder James Fagan, the popularity has been good for the business.
“There’s a lot that goes into it, and it’s all about what we do for our customers,” he said.
The high end stores are known for their low prices and high quality products, but the average customer can expect to pay around $600 for a pair of jeans, or about $2,300 for a dress.
While REnow has been able to provide the same quality products for around $2 a pair, Mr Fagan said it was more expensive than online.
“As far as the price goes, it is more than competitive with our competitors,” he explained.
“We are offering a very competitive price point.”
People will see us as a very affordable way of getting a good product and being able do business in Queensland.
“Mr Fagan added that REnow had a strong customer service team.”