In order to answer this question, we first need to talk about what the ReStore is and why it exists.
The Habitat ReStore is the social enterprise of Habitat for Humanity Sault Ste. Marie & Area. What is a social enterprise, you ask?
“A social enterprise is a cause-driven business whose primary reason for being is to improve social objectives and serve the common good.”https://www.thegoodtrade.com/features/what-is-a-social-enterprise
In other words, the ReStore exists to serve our mission, which is to bring our community together to help local families build strength, stability, and self-reliance through affordable homeownership. It exists to raise money to build homes.
The ReStore, of course, has a number of other benefits:
- Reducing the need for the production of new materials and the consumption of natural resources.
- Extending the value of household items, eliminating unnecessary waste, and ultimately decreasing our collective carbon footprint.
- A feel-good, exciting shopping experience for customers with all budgets – we offer new and gently-used items tax-free and at 50-80% off retail prices,
- With a number of volunteer opportunities, we build social capital through skill development, networking, and mentoring opportunities
Our Pricing Goals
There are two main goals that we attempt to achieve through the pricing of ReStore items.
- Earn as much revenue as possible for Habitat for Humanity Sault Ste. Marie & Area so that we can help more working families in need of a decent place to live.
- Provide unique furniture and home improvement items to the community at a reasonable price (we are not intending to be a cheap alternative to traditional retailers). Many people use ReStores to find items that they can’t find at other stores, to experience the past in a new way, and find items for DIY projects such as upcycling and repurposing.
How We Price Our Items
Here is how we price our items:
- Assessing the condition of the items we accept and receive
- Researching how much the items or equivalent items sell for at other retailers.
- Appraising items on initial assessment and once again by store staff upon arrival
- Basing initial pricing on volume i.e. how many of these type of items we have in stock
- If we can’t find the price, we base it on our ReStore sales experience, and how in-demand the items are at any given time.
We also offer a unique discount policy related to the colour of the stickers we place on our items!
- Blue sticker items are new/unused merchandise and are typically priced at 50% of retail prices.
Green sticker items are previously loved, or gently used, merchandise, and we price these based on our assessment and research. Green stickers are always dated with the date the item was put out onto the sales floor.
- After 1 week on the sales floor, green sticker items are an extra 25% off the price noted on the sticker.
- After 2 weeks, they are 50% off the price noted on the sticker.
We also have tons of amazing sales – including 50% off sales each and every month!
We strive for competitive pricing at the ReStore, but like other retailers, there are operational expenses like rent and staffing that have to be considered. Since the ReStore is a social enterprise, however, every dollar earned after operational expenses goes directly into our Affordable Homeownership Program.
When you shop at Habitat ReStore you support Habitat for Humanity Sault Ste. Marie & Area, the families we serve, and the environment. It’s a win-win-win! If you have any questions about our pricing, please talk to one of our Habitat ReStore staff.