Repair Stores See Boost As Economy Flounders
Consumer Confidence At Lowest Level Since 1967
Posted: 10:31 pm CST December 30,2008Updated: 2:16 pm CST December 31,2008
MADISON, Wis. -- Sagging markets, increasing layoffs and slumping holiday sales pushed consumer confidence to its lowest level since 1967.
VIDEO: Watch The ReportAlthough consumer spending is dropping, stories that specialize in repairs said they are busy as more people look to fix items rather than buy replacements.Peg Larabell, of Eastside Shoe Repair, said that the staff has been busy with costumers."We're just swamped," Larabell said. "I think the real push in the last few months has been the economy. Buy a nice pair of men's dress shoes, they can be $150 and up. If we put new soles on there, we're talking about between $45 and $50. It's pretty economical."Since this time last year, Larabell said business has doubled."I kind of expected it, but I didn't expect this much," Larabell said. "My whole goal was really, when I started this place, to try to keep things out of the landfill and to help people fix stuff rather than have to buy new."Larabell said she's seen more people buy things secondhand and then bring them in for repair, ready and willing to pay more to fix them up because they got such a great deal to begin with.Beverly Hamilton, who runs a formalwear consignment store in Verona called Just For You Consignments, said brides-to-be have been coming in to save money."It depends on the style of wedding gown, but you could save thousands, actually," Hamilton said. "You only wear it for five or six hours; you're on your best behavior; you never wear it again, so it's almost like brand new."She said that spring prom season makes for some of her best business. She expects that especially to be the case this year when she said more mothers will likely sell their daughter's old dress to pay for a new one."Everybody wins. Nobody makes a killing," Hamilton said.Hamilton does alterations and said more people are having them done instead of buying new coats. She said she has also been doing more alterations on pants and jackets to make them fit better or update the style.
VIDEO: Watch The ReportAlthough consumer spending is dropping, stories that specialize in repairs said they are busy as more people look to fix items rather than buy replacements.Peg Larabell, of Eastside Shoe Repair, said that the staff has been busy with costumers."We're just swamped," Larabell said. "I think the real push in the last few months has been the economy. Buy a nice pair of men's dress shoes, they can be $150 and up. If we put new soles on there, we're talking about between $45 and $50. It's pretty economical."Since this time last year, Larabell said business has doubled."I kind of expected it, but I didn't expect this much," Larabell said. "My whole goal was really, when I started this place, to try to keep things out of the landfill and to help people fix stuff rather than have to buy new."Larabell said she's seen more people buy things secondhand and then bring them in for repair, ready and willing to pay more to fix them up because they got such a great deal to begin with.Beverly Hamilton, who runs a formalwear consignment store in Verona called Just For You Consignments, said brides-to-be have been coming in to save money."It depends on the style of wedding gown, but you could save thousands, actually," Hamilton said. "You only wear it for five or six hours; you're on your best behavior; you never wear it again, so it's almost like brand new."She said that spring prom season makes for some of her best business. She expects that especially to be the case this year when she said more mothers will likely sell their daughter's old dress to pay for a new one."Everybody wins. Nobody makes a killing," Hamilton said.Hamilton does alterations and said more people are having them done instead of buying new coats. She said she has also been doing more alterations on pants and jackets to make them fit better or update the style. Copyright 2009 by Channel 3000. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
