Buffalo Exchange: Difference between revisions
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Bellabarre (talk | contribs) Extension of history, impact, and future outlook of the second hand retail brand. Tags: Reverted extraneous markup |
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{{Distinguish|Buffalo–Exchange Street station}} |
<ref></ref>{{Distinguish|Buffalo–Exchange Street station}} |
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{{Short description|Fashion resale retailer}} |
{{Short description|Fashion resale retailer}} |
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{{Infobox company |
{{Infobox company |
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| founded = 1974 |
| founded = 1974 |
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| hq_location = [[Tucson, Arizona]] |
| hq_location = [[Tucson, Arizona]] |
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| num_locations = |
| num_locations = 43 stores |
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| area_served = [[United States]] |
| area_served = [[United States]] |
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}} |
}} |
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'''Buffalo Exchange''' is an American fashion resale retailer. Operating under a "buy, sell, trade" business model, it buys clothing and accessories from the public and resells them to the public. Buffalo Exchange targets a wide range of styles and ages with a mix of new and recycled clothing and accessories, including current trends, everyday staples, vintage, one-of-a-kind items, designer and more.<ref>{{Cite web |title=How To Sell |url=https://buffaloexchange.com/how-to-sell/ |access-date=2022-10-11 |website=Buffalo Exchange |language=en-US}}</ref> Though often considered a thrift store, rather than receiving donations, they hand-select and purchase the majority of their inventory from the local community |
'''Buffalo Exchange''' is an American fashion resale retailer. Operating under a "buy, sell, trade" business model, it buys clothing and accessories from the public and resells them to the public. Buffalo Exchange targets a wide range of styles and ages with a mix of new and recycled clothing and accessories, including current trends, everyday staples, vintage, one-of-a-kind items, designer and more. <ref>{{Cite web |title=How To Sell |url=https://buffaloexchange.com/how-to-sell/ |access-date=2022-10-11 |website=Buffalo Exchange |language=en-US}}</ref> Though often considered a thrift store, rather than receiving donations, they hand-select and purchase the majority of their inventory from the local community, making a more curated selection. |
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Buffalo Exchange was established in 1974 in Tucson, Arizona by Kerstin Block and her husband, Spencer Block. It continues to be owned and run by |
Buffalo Exchange was established in 1974 in Tucson, Arizona by Kerstin Block and her husband, Spencer Block. It continues to be owned and run by the founder's daughter Rebecca Block. Its headquarters remain in Tucson, Arizona as the company operates approximately 40 stores throughout the United States. |
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== History == |
== History == |
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In 1974, Kerstin Block had an idea for a different |
In 1974, Kerstin Block had an idea for a different kind of secondhand shop that would be unique, inviting and vibrant as clothing was curated, making secondhand clothing and accessories more accessible. The store's concept was built on the overall idea of providing a space for people to buy, sell, and trade vintage and current styles. Kerstin and her husband, Spencer Block, rented out a small 400 square foot spot in Tucson, AZ, opening the first Buffalo Exchange store on Speedway Boulevard. Taking this, they began to pioneer the concept of buy-sell-trade for clothing, making them different from existing thrift and consignment models. <ref>https://www.insidetucsonbusiness.com/news/buffalo-exchange/article_668e9306-3e6c-11e8-9f26-1f5ead1ef466.html</ref> They handpicked each item based on what their customers were interested in buying, paid out on the spot and displayed everything in a fun, easy-to-shop space. |
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Originally from Sweden, Kerstin came to Tucson |
Originally from Sweden, Kerstin came to Tucson after earning a scholarship with the University of Arizona. It was here where she met her husband Spencer. When beginning to create the idea of her shop, Block was inspired by American West culture and chose to name the shop “Buffalo” to prompt a Western feel to the store. <ref>https://thisistucson.com/tucsonlife/badass-businesswoman-kerstin-block-pioneered-resale-fashion-with-buffalo-exchange/article_6b867568-3ab0-11e9-9831-9fbdb140440c.html</ref> Stores began to open in multiple urban areas that were filled with vibrant fashions and a more progressive scene. |
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Within the first couple of years, they started expanding in Arizona and eventually opened a location in San Francisco. In the 1990s, the popularity of secondhand shopping grew |
The concept of the store resonated with many customers and with that, the store gained popularity. Within the first couple of years, they started expanding in Arizona and eventually opened a location in San Francisco. In the 1990s, the popularity of secondhand shopping grew making this a catalyst for the brand as they would later grow their presence enough to open stores in major cities such as New York City, Los Angeles, San Francisco, and Portland, among others. |
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| ⚫ | |||
==Buy-Sell-Trade Process== |
==Buy-Sell-Trade Process== |
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Buffalo Exchange buys from open to close every day, with no appointment required to sell. Sellers are required to bring a valid, government-issued ID |
Buffalo Exchange buys from open to close every day, with no appointment required to sell. Sellers are required to bring a valid, government-issued ID. A driver's license or passport are acceptable; if under 18, the customer must bring an adult with a valid ID. To get paid, on the day a customer sells they walk away with 25% of the company's selling price in cash or a choice of 50% off in store credit for anything the company is able to buy. Sellers can take any mix of trade and cash. The company notes that they buy the best of all seasons, year-round, and make selections based on current inventory needs. Buffalo Exchange gets new inventory everyday as they take clothing that is in good condition ranging from vintage to current styles in all kinds of sizes. <ref>https://buffaloexchange.com/how-to-sell/</ref> |
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The shop must see all items in person before purchasing from the customer. After the customer sells, the buyer will tell them their cash/trade options. When choosing the trading option, trade cards are able to be administered to use the credit on another day as these never expire. |
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==Giving Back== |
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Buffalo Exchange has donated millions towards national and local charities that continue to support women, the arts, the environment, animals, social justice, and more. Millions of clothing are given new meaning at each location every year. The company took it a step further to keep out millions of single-use plastic bags out of their circulation through their very own Tokens for Bags® program. <ref>https://buffaloexchange.com/giving-back/</ref> |
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| ⚫ | The company is known for giving back to the community through other initiatives such as its annual Earth Day $1 Sale and its Tokens for Bags® program. Included in these initiatives is a list of charities highlighted as a focal point for the shop. <ref>https://buffaloexchange.com/tokens-for-bags-charities/?cn-reloaded=1</ref> |
||
==Impact and Earned Recognition== |
|||
Buffalo Exchange has proven itself as a valued brand in the retail fashion field. Widely recognized for its sustainable prices, the brand goes above and beyond to represent an eclectic selection of clothing and accessories while driving home a priority towards customer service. Buffalo Exchange has branded themselves to be "not your average thrift store".<ref>https://buffaloexchange.com/not-your-average-thrift-store/</ref> |
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Starting from its foundation, Kerstin Block founded the store to make it different from the other secondhand shops. Block followed her love for thrifting and never expected the store to grow such a presence. The idea of the store came forward as Block would wonder constantly of the other people who are "equally addicted" to thrift store shopping but did not want to go through so many racks. This would build her original business model of a resale shop where customers could purchase hand-picked gems under one roof and also sell clothes for trade or cash. Resale at the time was not very popular but Block knew there would be people out there wanting to find unique pieces for a great deal.<ref>https://buffaloexchange.com/not-your-average-thrift-store/</ref> This initiative is what prompts them to continuously involve a community to encourage sustainable fashion and change the perception of secondhand shopping. <ref>https://www.businessinsider.com/how-buffalo-exchange-became-a-national-thrift-store-chain-2021-8</ref> |
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The couple started the resale shop not knowing much about the business behind fashion, but this by no means stopped them. The "little boutique" would soon grow as it was built on values. These values include a form of golden rule for "respecting people and treating everybody fairly and listening to people" as Kirsten herself has said. Much of the shops success is due to tenet loyalty. Honesty and humanistic approaches to both business structure and customer service is what brought the people in to shop and bring clothing in. The brand celebrates individuality and unique expression.<ref>https://buffaloexchange.com/not-your-average-thrift-store/</ref> |
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==Future Projections== |
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Buffalo Exchange is here to stay and is only looking to continue to expand. Sustainable fashion continues to spike consumer interest as Buffalo Exchange has pioneered its image within it. The company continues to focus on environmental responsibility, community inclusivity, and affordable fashion to a diverse range of customers. This all positions Buffalo Exchange for continued success for years to come. Sky rocketing revenues follow the company post pandemic as "youth culture" is what currently makes up most of secondhand culture today (2024). Kirsten Block has since retired from her position as owner in 2024 and has handed it down to her daughter Rebecca Block.<ref>https://www.businessinsider.com/how-buffalo-exchange-became-a-national-thrift-store-chain-2021-8</ref> |
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{{Expand section|date=January |
{{Expand section|date=January 2024}} |
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==References== |
==References== |
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Revision as of 22:52, 12 April 2024
Cite error: There are <ref> tags on this page without content in them (see the help page).
 | |
| Company type | privately owned |
|---|---|
| Industry | fashion resale retailer sell new & used clothing |
| Founded | 1974 |
| Headquarters | Tucson, Arizona |
Number of locations | 43 stores |
Area served | United States |
Buffalo Exchange is an American fashion resale retailer. Operating under a "buy, sell, trade" business model, it buys clothing and accessories from the public and resells them to the public. Buffalo Exchange targets a wide range of styles and ages with a mix of new and recycled clothing and accessories, including current trends, everyday staples, vintage, one-of-a-kind items, designer and more. [1] Though often considered a thrift store, rather than receiving donations, they hand-select and purchase the majority of their inventory from the local community, making a more curated selection.
Buffalo Exchange was established in 1974 in Tucson, Arizona by Kerstin Block and her husband, Spencer Block. It continues to be owned and run by the founder's daughter Rebecca Block. Its headquarters remain in Tucson, Arizona as the company operates approximately 40 stores throughout the United States.
History
In 1974, Kerstin Block had an idea for a different kind of secondhand shop that would be unique, inviting and vibrant as clothing was curated, making secondhand clothing and accessories more accessible. The store's concept was built on the overall idea of providing a space for people to buy, sell, and trade vintage and current styles. Kerstin and her husband, Spencer Block, rented out a small 400 square foot spot in Tucson, AZ, opening the first Buffalo Exchange store on Speedway Boulevard. Taking this, they began to pioneer the concept of buy-sell-trade for clothing, making them different from existing thrift and consignment models. [2] They handpicked each item based on what their customers were interested in buying, paid out on the spot and displayed everything in a fun, easy-to-shop space.
Originally from Sweden, Kerstin came to Tucson after earning a scholarship with the University of Arizona. It was here where she met her husband Spencer. When beginning to create the idea of her shop, Block was inspired by American West culture and chose to name the shop “Buffalo” to prompt a Western feel to the store. [3] Stores began to open in multiple urban areas that were filled with vibrant fashions and a more progressive scene.
The concept of the store resonated with many customers and with that, the store gained popularity. Within the first couple of years, they started expanding in Arizona and eventually opened a location in San Francisco. In the 1990s, the popularity of secondhand shopping grew making this a catalyst for the brand as they would later grow their presence enough to open stores in major cities such as New York City, Los Angeles, San Francisco, and Portland, among others.
Buy-Sell-Trade Process
Buffalo Exchange buys from open to close every day, with no appointment required to sell. Sellers are required to bring a valid, government-issued ID. A driver's license or passport are acceptable; if under 18, the customer must bring an adult with a valid ID. To get paid, on the day a customer sells they walk away with 25% of the company's selling price in cash or a choice of 50% off in store credit for anything the company is able to buy. Sellers can take any mix of trade and cash. The company notes that they buy the best of all seasons, year-round, and make selections based on current inventory needs. Buffalo Exchange gets new inventory everyday as they take clothing that is in good condition ranging from vintage to current styles in all kinds of sizes. [4]
The shop must see all items in person before purchasing from the customer. After the customer sells, the buyer will tell them their cash/trade options. When choosing the trading option, trade cards are able to be administered to use the credit on another day as these never expire.
Giving Back
Buffalo Exchange has donated millions towards national and local charities that continue to support women, the arts, the environment, animals, social justice, and more. Millions of clothing are given new meaning at each location every year. The company took it a step further to keep out millions of single-use plastic bags out of their circulation through their very own Tokens for Bags® program. [5]
The company is known for giving back to the community through other initiatives such as its annual Earth Day $1 Sale and its Tokens for Bags® program. Included in these initiatives is a list of charities highlighted as a focal point for the shop. [6]
Impact and Earned Recognition
Buffalo Exchange has proven itself as a valued brand in the retail fashion field. Widely recognized for its sustainable prices, the brand goes above and beyond to represent an eclectic selection of clothing and accessories while driving home a priority towards customer service. Buffalo Exchange has branded themselves to be "not your average thrift store".[7]
Starting from its foundation, Kerstin Block founded the store to make it different from the other secondhand shops. Block followed her love for thrifting and never expected the store to grow such a presence. The idea of the store came forward as Block would wonder constantly of the other people who are "equally addicted" to thrift store shopping but did not want to go through so many racks. This would build her original business model of a resale shop where customers could purchase hand-picked gems under one roof and also sell clothes for trade or cash. Resale at the time was not very popular but Block knew there would be people out there wanting to find unique pieces for a great deal.[8] This initiative is what prompts them to continuously involve a community to encourage sustainable fashion and change the perception of secondhand shopping. [9]
The couple started the resale shop not knowing much about the business behind fashion, but this by no means stopped them. The "little boutique" would soon grow as it was built on values. These values include a form of golden rule for "respecting people and treating everybody fairly and listening to people" as Kirsten herself has said. Much of the shops success is due to tenet loyalty. Honesty and humanistic approaches to both business structure and customer service is what brought the people in to shop and bring clothing in. The brand celebrates individuality and unique expression.[10]
Future Projections
Buffalo Exchange is here to stay and is only looking to continue to expand. Sustainable fashion continues to spike consumer interest as Buffalo Exchange has pioneered its image within it. The company continues to focus on environmental responsibility, community inclusivity, and affordable fashion to a diverse range of customers. This all positions Buffalo Exchange for continued success for years to come. Sky rocketing revenues follow the company post pandemic as "youth culture" is what currently makes up most of secondhand culture today (2024). Kirsten Block has since retired from her position as owner in 2024 and has handed it down to her daughter Rebecca Block.[11]
![[icon]](/wiki/File:Wiki_letter_w_cropped.svg){kind=small} | This section needs expansion. You can help by adding to it. (January 2024) |
References
- ^ "How To Sell". Buffalo Exchange. Retrieved 2022-10-11.
- ^ https://www.insidetucsonbusiness.com/news/buffalo-exchange/article_668e9306-3e6c-11e8-9f26-1f5ead1ef466.html
- ^ https://thisistucson.com/tucsonlife/badass-businesswoman-kerstin-block-pioneered-resale-fashion-with-buffalo-exchange/article_6b867568-3ab0-11e9-9831-9fbdb140440c.html
- ^ https://buffaloexchange.com/how-to-sell/
- ^ https://buffaloexchange.com/giving-back/
- ^ https://buffaloexchange.com/tokens-for-bags-charities/?cn-reloaded=1
- ^ https://buffaloexchange.com/not-your-average-thrift-store/
- ^ https://buffaloexchange.com/not-your-average-thrift-store/
- ^ https://www.businessinsider.com/how-buffalo-exchange-became-a-national-thrift-store-chain-2021-8
- ^ https://buffaloexchange.com/not-your-average-thrift-store/
- ^ https://www.businessinsider.com/how-buffalo-exchange-became-a-national-thrift-store-chain-2021-8
- Bahr, Emilie (July 7, 2008). "Secondhand Savings. Lean economy sends more consumers to resale shops". New Orleans CityBusiness. Archived from the original on June 19, 2009. Retrieved July 29, 2008.
- Fink, Mara (July 26, 2008). "Savvy consumers help themselves to seconds at consignment stores". The Pioneer Press. Retrieved July 29, 2008.
External links
- Buffalo Exchange Official site.
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