This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The New Era of Secondhand Shopping

Consumerism as we know it is about to change for good.

The Return of Old Consumer Values

Jory Felice was shopping at a garage sale last year when he stumbled on a vintage 20-year-old Mac Classic computer on sale for only $10. Felice, who works as a Web designer, couldn't resist and bought it. Unfortunately, there was one problem: The computer was missing a mouse.

"They don't make that mouse anymore, and from a design standpoint, I had to have that one," Felice said.

So Felice left the garage sale with his purchase and turned to a different kind of thrifty community for help, a site called Neighborgoods where consumers can borrow or rent products from people who live nearby and share or sell their own goods in return.

Felice, who joined Neighborgoods in mid-2009, searched the site and, sure enough, found one user in his area who had dozens of old mice he no longer used and was willing to give away.

"This way, I didn't have to go and bid on a mouse at some auction," Felice said. Instead, all he had to do was drive over to the person's house. Although, as he admits now, this did prove to be a unique experience.

"He was on his front porch with a bunch of his friends and had a paper bag with this old mouse in it. It was like a weird creepy drug deal," Felice said. "But he was a really sweet guy, and it's a great mouse."

Neighborgoods officially launched in October 2009 after having been available in a beta version for several months. It launched nationally in June of this year. There are now more than 10,000 members on the site sharing and selling $3 million worth of goods. They, like Felice, use the site to save money, lend to others and find an alternative way to shop.

"We're just using new technology to do old things," said Micki Krimmel, the founder and CEO of Neighborgoods. "There are stories of women from 1910 who used to share vacuum cleaners. That's essentially what we are doing now."

The idea for the site began with a backpack.

As Krimmel tells it, she was on a trip in Thailand and realized she desperately needed a traveler's backpack. So she grudgingly coughed up a few hundred dollars for the purchase.

"This backpack, like all the junk I own, was something I needed at the moment but didn't need anytime later. So I started lending it out to people, which is what led to the site," she said.
2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.98 0.36%
FB $118.09 -0.40%
GOOG $696.99 -0.17%
TSLA $234.85 -2.90%
YHOO $36.13 -1.10%


Chart of I:DJI
DOW 17,708.51 -182.65 -1.02%
S&P 500 2,060.14 -21.29 -1.02%
NASDAQ 4,765.0240 -52.57 -1.09%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs