"Exploring Marketing Strategies of Thrift Shops in Tacurong City, Sultan

Kudarat for Enhanced Business Survivability"

 INTRODUCTION

Background of the Study

Low-income people and college students having a relatively small budget are
more likely to shop at thrift shops selling gently used products at lower prices
(Cascade Alliance, 2017). Thrift shops often struggle with establishing a strong
brand identity and positioning themselves effectively in the market. Research
indicates that many thrift shops lack a clear brand message and target demographic
focus, leading to inconsistencies in marketing efforts and reduced customer
engagement (Gough, H. & C. McKeown. 2017). The Thrift shops are often perceived
as having lower quality and less attractive store environments compared to retail
competitors. This perception affects consumer willingness to shop and the overall
effectiveness of marketing strategies (Moore, R. & Davies, P. 2020). Additionally,
inventory management can be problematic due to the unpredictable nature of
donated goods, leading to inconsistent stock levels and customer dissatisfaction
(Zhang, L. & Xu, Y. 2018).

In this study, the variables related to marketing strategies is a construct that

lies at the conceptual heart of the field of strategic marketing and is central to the
practice of marketing. (Morgan, Whitler, K.A., Feng, H. et al. 2019). In such a market
environment, companies are required to have effective marketing strategies in order
to increase the competitiveness of their products in the global market. (Sudirjo, F.
2023). Implementing the strategies may result in improving a firm’s profitability,
sustainability and survivabilty. (Nwabueze, S. 2019). The survivability of a thrift store
is crucial not only for its economic viability but also for its social and environmental
contributions. Thrift stores provide affordable goods, which is particularly important
during economic downturns, helping consumers manage limited budgets (Klein,
2020).

Thrift stores often employ dynamic pricing models, offering discounts or

markdowns to attract customers during slower sales periods. This pricing flexibility
enables thrift stores to maintain consistent customer traffic, which is essential for
long-term business survivability (Hansen and Gutzler, 2020). Moreover, thrift stores
tend to thrive during periods of economic recession, as consumers become more
price-sensitive and turn to secondhand options to meet their needs. This resilience to
economic fluctuations is a major factor contributing to their business survivability.
(Williams and Paddock, 2019). Additionally, Thrift shops that specialize in niche
markets, such as vintage clothing or rare collectibles, tend to perform better than
general thrift stores by targeting specific customer segments and offering curated
selections, thrift stores can distinguish themselves from competitors and ensure
long-term profitability, which directly contributes to their survivability. (Wright and
Peters, 2021).

The survival of small businesses, like thrift shops, is crucial for sustaining the
local economy. The study could provide a roadmap for thrift stores to maintain
profitability and grow, ensuring their long-term survival. The study can shed light on
how consumers in the region perceive thrift stores and what motivates them to shop
there. Understanding consumer behavior is key to tailoring marketing strategies that
resonate with the local population. By identifying successful marketing strategies, the
study can help local entrepreneurs and business owners in Tacurong City better
understand how to attract and retain customers. This can also contribute to job
creation and local economic development. In Poblacion, Tacurong City a unique
market environment influenced by regional preferences, income levels, and
consumer behavior. Studying the marketing strategies in this specific context can
provide insights into what works and what doesn’t for thrift stores, which operate on
thin profit margins.
Statement of the Problem

1. What is the socio-demographic profile of the thrift store vendors in terms of:
1.1 Age;
1.2 Sex;
1.3 Civil Status;
1.4 Educational Attainment;
1.5 Number of years of experience in business?
2. What is the level of Marketing Strategies among thrift store in Poblacion,
Tacurong City, Sultan Kudarat in terms of:
2.1 Product;
2.2 Price;
2.3 Place;
2.4 Promotion;
2.5 Process;
2.6 People; and
2.7 Physical Evidence.
3. To determine the survivability in terms of net profit of Thrift store in Poblacion,
Tacurong City, Sultan Kudarat.
4. Is there a significant relationship between marketing strategies and
survivability of Thrift store in Poblacion, Tacurong City, Sultan Kudarat?
Significance of the Study

The significance of the study was to help the researchers to find the
effectiveness of marketing strategies and their impact on the survival of thrift stores
in Poblacion, Tacurong City, Sultan Kudarat.This provide data on how thrift stores
identify and assess risk and what strategies they adopt to continue business
operations. This study is relevant to the following as reference who will make use of
the results in comparison to further related study:

To the Future Business Owners the study's result would enable future
business owners to understand how their marketing strategies affect their ability to
stay in business, and by doing so, they would be able to take steps to strengthen
their business plans.
To the Consumers Preference like students, employees, and locals who
patronize the goods offered by the second hand clothes business in Poblacion,
Tacurong City Thrift stores. These people expected quality goods and satisfactions
by their preferences at cheap and affordable prices. Regarding profit, their buying
capability is one of the tools to measure the success of the business.
To the Future Thrift Shop Owner the study provides insight into the
challenges they may face in the industry, it offers guidance on pricing strategies and
maintaining a variety of items, helping future thrift shop owners make informed
decisions and develop effective business strategies.
To the Student this study allows them to gain a deeper understanding of the
challenges encountered by thrift store owners. It provides an opportunity to
contribute to the field, develop expertise, and potentially influence future practices in
the thrift stores industry.
To the Future Researchers, the research study can help future researchers
who want to pursue related studies on the particular topic may emphasize on the
needs assessment of their participants.
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