Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
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and another in Long Beach. Block says the company wants to open more of these, especially in shopping centers, where they may be able to cultivate rela- tionships with national developers. In the beginning that was a pipe dream, he says. "The chaos of a thrift store was our nemesis," Block said. "It was definitely hard to get landlords to sign on." The longstanding perception of re- sale shops was that they were little more than junk stores, but this has been un- dergoing dramatic change. "The idea of consignment and resale stores as viable retail concepts began typically with home furnishings and then found a market in clothing," said retail consultant Jeff Green, who runs an eponymous firm in Phoenix. "In high-growth markets like Phoenix and Palm Springs [Calif.] and edgier markets like San Francisco and New York, consignment and resale shops have gained quite a following, especially since the economic downturn." As demand grows, Crossroads Trading is spiffing up its image, hav- ing hired architecture firm Gensler to help design the high-fashion Fillmore & 5th stores. Meanwhile, "we are still very actively pursuing opportunities for Crossroads," Block said. To date, most Crossroads Trading stores have been stand-alones or operate at the strip centers of local landlords. But demand is such that it's a sector worthy of the attention of national mall developers, observers say. Many members of the Mil- lennial generation check for the presence of resale shops when considering a new neighborhood, according to online real estate website Rent.com. "A majority of these 18-to-33-year-olds have to contend with student loans and starting salaries, making them a fiscally conscious bunch," the site reported in an April blog. But interest is hardly limited to Mil- lennials. Everyone enjoys a treasure hunt and hope they can uncover a Dior, say, among racks of used clothes. Today many shoppers will proudly show off resale bargains as a badge of pride. And Hollywood stylists are forever point- ing out in the media that one can find one-of-a-kind booty at secondhand stores — and at the same time, help the environment, because the garments pur- chased might otherwise have gone to the landfills. Developers might do well to take note of these twin benefits of cost savings and environmentalism. "I exclusively buy used clothes," actress Shailene Woodley told People magazine. "I'm going to be a citizen of this planet, and I'm going to do my responsibility and live in stride with nature instead of con- stantly fighting against her." SCT r e T a i l i n g T o d a y © 2014 DOW JONES & COMPANY, INC. ALL RIGHTS RESERVED. The Wall Street Journal delivers more global executives responsible for real estate than any other publication. Source: The Media Survey of Business Elite, Global 2012; global executives responsible for real estate procurement. A Platform as Powerful as the People Who Use It. 1-800-366-3975 N o v e m b e r 2 0 1 4 / S C T 37