Innovative and relevant solutions for the crisis of stuff

Rag News

Innovative and
relevant solutions
for the crisis of stuff

Toll Free: 866.613.0719
May 2020

Bank & Vogue presents the Rag News, the hottest free source of news to keep you up-to-date on the global used goods industry.

Rag News: May 2020


What is going on in the Marketplace? 

Great Toronto Area (GTA):

  • Ontario government extended the shutdown until the end of May.
  • Graders will need to sort through thousands of pounds in sitting inventory, once they reopen.
  • There could be a reluctance to buy early on, until end markets stabilize.

Texas:

  • Businesses opening back up, they are eager to move loads. However, their customer markets are still closed.
  • Product available, waiting for customers for purchase.

Border:

  • McAllen warehouses have opened this week. Starting their operations slowly.
  • Expecting the markets served by these suppliers to gradually begin to operate in May.

Latin America:

  • El Salvador and Guatemala government plan to extend quarantine until mid-May.

Pakistan:

  • Ramadan begun, reducing operations.
  • Some buyers beginning to operate at low capacity.
  • Back log of containers needed to be sorted, therefore they are not ordering.

India:

  • Government allowed to start work from April 22, graders decided to not start operations
  • No income, since Africa is still closed.
  • Fear of virus Shortage of workers, since due to the shutdowns they moved back to their villages.

Dubai:

  • Ramadan month begun until May 23rd. Working capacities are reduce as a result.
  • Lockdown has finished.
  • Working at 30-40% capacity.
  • Customers looking for deals, to take advantage of low prices.
  • Customers looking for stock of new clothes, store returns, excess from brands.

Private Collectors:

  • Taking reductions on prices to move product, about 35% lower prices.
  • Upfront payment is a current preference, to offset product pricing losses.
  • California shutdown extended until May 15, some working with a skeleton crew.

Major Charities:

  • Charity thrift stores remain closed.
  • Many charities continue to operate with a skeleton crew. Collecting donations from bins, seeing an influx of product.

Canadian Thrift Stores:

  • Some provinces reopening in May. Quebec, Prince Edward Island, New Brunswick, Manitoba, Alberta, and Saskatchewan.
  • Collections and bin clearing still ongoing for most organizations. Product is very plentiful for customer demand levels.

 

Share This: