With public spending down and red sale signs emblazoned across the High Street, it seems the credit crunch is hitting women where it hurts — in their clothes budgets.

But do not fear. Trade at the country's very first charity shop — Oxfam in Broad Street, Oxford — is going great guns.

On any given day, women of all ages can be seen scouring the rails for designer bargains and vintage gems.

A quick rummage reveals labels such as Armani, Kaliko, Phase Eight and Monsoon, as well as accessories from Hobbs and shoes from Next and Faith.

And whether you are after a winter coat, a glitzy frock or even a couture gown, it seems Oxfam is the place to shop.

Manager Jan Tansley said: "We get some amazing donations at the store and you only have to look at the diversity of women and men who come in here looking for clothes, to see that.

"We have students looking for vintage dresses and separates and one fifty-something lady comes here all the time looking for vintage formal wear. She said she loved to go to functions knowing she was in a one-off dress that no-one else would be wearing."

Oxfam volunteers Nana Barker, 24, and Louisa Westbury, 29, who works in the Broad Canvas art store, also in Broad Street, helped show off some of the bargains currently on offer.

Mrs Barker, who is originally from Japan, said: "I love working at Oxfam and have been here for about two months, but it is very hard to resist all the great clothes we get in here.

"Often I see clothes going out on sale and have to stop myself from buying them — otherwise I would have no money left.

"The clothes are especially popular with the female students who come in here looking for original pieces."

The girls put together two outfits – a winter look and a party look. And while it isn't difficult to find some great items, they do find it hard to decide which of the many stylish bags, shoes and jewellery to complete their looks.

Ms Westbury said: "There are some lovely clothes here and I can see why so many people come in looking for bargains.

"I have chosen a red, woollen dress which costs just £19.99, plus some lovely Clarks boots for just £14.99, a bag for £3.59 and a funky, cord H&M bomber jacket, which costs just £10. The scarf finishes off the look for £2.99."

Nana's winter look consists of a never worn trench coat (£14.99 by Tammy), boots by Faith for £14.99, a wool beret at £3.99, a scarf, also £3.99, and a bag at £5.99.

Louisa's party outfit is a River Island dress (£17.99), shoes by Next at £7.99, a bangle priced £2.99, a sequined scarf at £2.99 and necklace costing £2.99. Nana's dress is from designer internet supplier ASOS and costs just £12.99.

The necklace is £1.99 and the shoes are her own.

Manager Jan Tansley said: "The girls look fab and so do the clothes. But we want even more donations to carry on Oxfam's great work — so keep bringing us all your unwanted clothes."

Oxfam can lay claim, of course, to being a pioneering retailer. The first charity shop in Britain, Broad Street Oxfam, opened in 1948, and was called the Famine Relief Gift Shop.

It sent clothes donated by local people to those left in poverty by the Second World War and sold off some of the surplus donations.

Oxfam shop founder Joe Mitty arrived in 1949 and had the foresight to turn the shop into a functioning trading outlet, heralding a revolution in retailing.

He realised donations from the public like books, crockery and paintings could be sold in a professional looking shop. Mr Mitty led the way by selling extraordinary contributions ranging from a live donkey to a houseboat and it was his entrepreneurial plan to ask the public for diamonds to celebrate the Oxfam shops’ diamond anniversary.

Broad Street received a diamond ring on its 60th anniversary in June which it plans to sell.

Oxfam has also opened the first ever online charity shop (www.oxfam.org.uk/shop), launched a series of fashion boutiques, has more than 120 bookshops, music shops and regularly sells high value items, from first edition books and vintage cars to precious jewels, at auction.