Thrift shop business booms as inflation throttles American bank accounts
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Thrift shop businesses are booming this year, with many owners of the shops pointing to sky-high inflation that is strangling the pocketbooks of Americans.
"We're up maybe 30 percent over last year and last year was a pretty good year," Scott Freedman, the founder of the children’s resale store Lots for Tots in Maine, told WGME.
The store is one of many across the country reporting an uptick in sales this summer, as inflation strangles pocketbooks. In Louisiana, charitable organizations and thrift store owners said business did well during the pandemic, but really skyrocketed this summer.
"Certainly, over the course of the pandemic, we’ve been busy, but over the course of the last two months, there are numbers that we haven’t seen in quite a while," Michael Acaldo, president and CEO of the Society of St. Vincent de Paul of Baton Rouge, told the Advocate this month.
INFLATION CLIMBED 8.5% IN JULY AS PRICES COOL BUT REMAIN NEAR RECORD HIGH