News & Resources

Local pawn shops see increase in customers, business

Jun 30, 2012 Sean Albert

With the recent economic recession, American consumers have increasingly turned to alternative finance options in order to obtain necessary funds. Pawn shops are one option for individuals looking for help, many local stores have experienced an increase in operations. Mississippi's Hattiesburg American reports that several area pawn shops have been receiving a steady flow of customers and business since the recession. While it would be nice for shop owners to get the experience of selling rare and exotic goods, most say they are selling everyday products, such as televisions, jewelry and even toilets, to visitors. Owner of Brian's Pawn & Gun, Brian Evans, told the news source that since the economic downturn, fewer customers are returning to pick up the goods they have pawned. Before the recession, Evans said 80 percent of individuals would pay back their loans to collect their items, but now that number is down to 50 percent. Another reason for the increase in the pawn shop business could be attributed to the reality television show featuring pawn operations, Pawn Stars. Some Alabama pawn shops have seen a rise in customers pawning their goods, and owners say it is because the portrayal of shops on the show has made viewers realize that pawn shops are legitimate businesses helping customers with their needs, writes