Savers is a popular thrift store chain based in the United States. The company was founded in 1954 by Bill and Kati Formichelli, who opened the first Savers thrift store in San Francisco. The business was originally called “Value Village,” but in 1984 was renamed Savers. EcoGoodz. Over the next decades, Savers expanded across the country, and today operates over 350 store locations in the United States, Canada, Australia and Europe. From its modest beginnings as a single store operation in San Francisco, Savers has grown into an international presence with nearly 30,000 employees and over $1 billion in revenue. The company’s focus continues to be providing donated goods to consumers at affordable prices while funding non-profit social impact programs.
Total Number of Savers Locations
As of July 2023, there are a total of 165 Savers thrift store locations in the United States.
According to research, Savers had 165 thrift stores across the country as of July 13, 2023. This makes it one of the largest thrift store chains in America.
Savers appears to only have store locations in the United States currently. There is no evidence of Savers expanding internationally at this time.
With 165 thrift stores nationwide, Savers has a significant retail presence focused entirely within the U.S. This contrasts with other major thrift chains like Goodwill or Salvation Army, which have thousands of locations globally.
Locations by Country
Savers thrift stores are located in 3 different countries around the world, including the United States, Canada, and Australia. According to the Savers website, there are over 315 store locations across these 3 countries. https://stores.savers.com/
The United States has the most Savers locations out of any country. There are currently 167 Savers thrift stores across the United States as of November 2022. California has the most Savers locations of any U.S. state with 27 stores. https://www.scrapehero.com/location-reports/Savers%20Thrift-USA/
After the U.S., Canada has the second highest number of Savers locations with over 100 stores across the country. Most of these are located in the provinces of Ontario, British Columbia, Alberta, and Quebec. Australia has the fewest Savers locations out of the 3 countries, with approximately 50 stores mainly located in the eastern states.
So in summary, the United States far exceeds Canada and Australia for total Savers thrift stores. The company originated in the U.S. and continues to have its heaviest presence there, especially in populous states like California. Canada and Australia have considerably fewer locations, but still offer Savers shopping and donations opportunities across their major provinces and states.
Locations by U.S. State
Savers has over 370 thrift stores located across the United States. The states with the most Savers locations are California, Washington, and Oregon. California has over 80 locations, Washington has over 40, and Oregon has over 30.
The states with the fewest Savers locations are Hawaii, Wyoming, North Dakota and South Dakota. Each of these states only has 1 Savers location.
Other states with a large Savers presence include Arizona with over 30 locations, Colorado with over 20, and Texas with over 15 locations. Savers tends to have more locations on the West Coast and fewer locations in the Midwest and Southern United States.
In summary, Savers has the most locations in populous West Coast states like California, Washington and Oregon. The states with the fewest Savers stores are concentrated in the Rocky Mountains and Northern Plains regions.
Store Formats
Savers operates stores under several different formats, each offering a unique shopping experience. The main store formats include:
Savers – The standard Savers thrift stores, ranging from 10,000 to 20,000 square feet. They offer a wide selection of clothing, accessories, furniture, household items, books, toys, and electronics. Most merchandise is sorted by category rather than size or color. These stores aim to provide a fun, treasure hunt shopping experience. https://www.savers.com/
Value Village – Similar in size and offerings to regular Savers stores, with more upscale and contemporary products. Value Village stores are designed to have a boutique feel. They are located primarily in middle to higher income neighborhoods. https://en.wikipedia.org/wiki/Savers
Unique Thrift Store – Smaller thrift stores ranging from 2,500 to 4,000 square feet. They offer thrift prices on brand name fashions and accessories. These stores focus on clothing, shoes, jewelry, handbags, and other accessories. https://www.savers.com/
Recent Growth
Savers Value Village has experienced steady growth in recent years, expanding its total number of retail locations. According to their Q3 2023 earnings report, Savers opened 9 new stores in the quarter, resulting in 328 stores in the United States and Canada. This represents a net increase of 26 stores compared to Q3 2022.
For the full year 2022, Savers Value Village opened a total of 37 new retail locations, indicating continued expansion. Comparable store sales increased by 5% in constant currency for Q3 2023, showing solid growth at existing locations as well.
Savers also provided preliminary results for Q4 2023, with comparable store sales expected to increase by approximately 2.6%. The company cited “solid sales performance throughout the holiday season” as leading to positive comparable store sales.
Overall, Savers Value Village has been on a steady growth trajectory, opening dozens of new retail locations annually. While comparable store sales growth has moderated somewhat, the company continues to expand its footprint across the United States and Canada.
Competitive Analysis
Savers compares to competitors like Goodwill, Salvation Army, American Thrift, and Value Village in terms of number of store locations. According to Similar Web analysis of stores.savers.com, Savers top competitors in November 2023 are:
- Value Village – 700 stores
- Thrift Shopper – 500 stores
- BuyThrift – 400 stores
Savers has around 320 thrift stores in the US and Canada, which makes it smaller than top competitors Value Village and Thrift Shopper in terms of total locations. However, it still has a significant presence and is larger than BuyThrift. Goodwill meanwhile has over 3,000 locations in the US, Canada, and overseas, making it by far the largest thrift store chain.
In terms of revenue, according to Owler, Savers revenue for the last 4 quarters is estimated at $1.3 billion. This makes it the highest revenue earner among its top 10 competitors, with competitors averaging $222.9 million in revenue. However, Goodwill would likely surpass Savers in total revenue given its vastly greater store count.
Overall, while Savers has fewer locations than top competitors, its revenue and growth indicates it is still a major player in the thrift retail industry.
Sources:
https://www.similarweb.com/website/stores.savers.com/competitors/
https://www.owler.com/company/savers
Future Expansion Plans
Savers has announced major expansion plans, especially in the United Kingdom. According to Costar, the parent company of Savers wants to open 55 more stores in the UK every year. This major expansion plan is targeting bigger city centre shops.
The UK appears to be a key target market for growth and expansion for Savers. The company sees opportunities to expand its presence in major metropolitan areas across the UK. Additionally, Savers’ parent company acquired a UK retailer called Superdrug in 2021, further positioning it for UK growth.
While specific expansion plans for the US market are unclear, the upcoming IPO suggests Savers is looking to fuel overall company growth. Its strong presence across the US already likely means more targeted, strategic growth in key markets rather than nationwide blanket expansion.
Closures
Savers has closed some of its retail locations in recent years. In 2021, the company closed 16 stores across 4 states, including 11 stores in California, 2 stores in Colorado, 2 stores in Oregon, and 1 store in Washington.[1] The closures were attributed to the economic impacts of the COVID-19 pandemic which led to declining sales and foot traffic.
Additional closures occurred in 2022, including 5 stores in the San Francisco Bay Area. These closures were the result of Savers not renewing leases as they expired. The company stated that shifting consumer shopping habits and the growth of e-commerce impacted the performance of some locations.[1]
Savers has opted to close underperforming retail stores to focus on more profitable locations and expanding its e-commerce operations. The company has also faced increased competition from other thrift retailers. By closing select stores, Savers aims to maximize its financial performance and adapt to changes in the retail landscape.
Conclusion
In conclusion, Savers operates over 300 thrift stores throughout the United States, Canada, and Australia. The company’s rapid expansion in recent years can be attributed to its unique business model of reselling donated goods to fund non-profit community organizations. Savers differentiates itself from other thrift chains by offering a wide variety of merchandise categories beyond just clothing, providing a “department store” shopping experience. While the thrift industry faces challenges with changing fashion trends and competition from online resellers, Savers has continued to adapt and innovate, introducing new store formats and focusing on the treasure hunt atmosphere that draws enthusiastic thrifters. With sustainability and community impact as driving values, Savers is well-positioned for further growth as it works to make thrift accessible to all. The key takeaways are Savers’ large and expanding geographic footprint, diversified merchandise mix, and dual mission of funding charities while providing an entertaining thrift shopping adventure.