Pawn shops in the new age

There are thousands of pawn shops across the country that aim to provide alternative finance solutions to area residents. While these businesses are still operating and seeing new customers, there are some that are venturing forward and adapting to new technologies and policies. Practical Ecommerce interviewed Don Battis, CEO of Pawntique, an online pawn shop that serves consumers throughout the nation. Battis said that shops are moving to the internet in order to reach a larger customer base and offer short term lending options. The process works much like a brick-and-mortar location, except consumers mail in their items to the pawn shop's base and are then provided with the necessary funds. Additionally, Battis says these types of internet shops can serve more individuals and therefore generate more revenue. With the internet being an important part of business, pawn shops are following the trend. For pawn shops that have not yet made the leap to the internet, more local governments are realizing the benefits that the companies can offer when it comes to catching thieves. The Daily Mail reports that Greene County, New York, will be voting soon on legislation that will require area pawn shops to hold items brought into their establishments for ten days. This is being done so that stolen items may be recovered and returned to their owners, says the news source.