When bills need to be paid and there are few options in where to find available funds this means that more people might be turning to pawning goods in order to survive.

Pawn shop businesses have seen a rise in demand, more people are coming in with various items to sell because they are short and in need of some money until payday, or they might be facing some other financial hurdle.

More sellers than buyers at pawn shops these days

The scene might have been popularized on television shows over the last decade or more, still there are many who will never find themselves in a pawn shop either to sell or buy. They are visited by millions though and even more now people might be looking to see what they can flip, if there are any pawn shops left in the area after the pandemic might have closed down a few.

There are a number of buyers who are coming in with a wide range of items to pawn these days. Around the US there are different pawn shops which have been seeing a spike in traffic.

Business demand has grown along with inflation levels and the high cost of living.

If someone has something around the house that they aren't using and can possibly trade for some other value then it's easy to see why so many are making the trip. This has also been a popular spot to go fishing for precious metals as well, along with other valuables.

As more people struggle financially we've seen a rise in a variety of crimes, including retail and food theft, catalytic converter thefts, car thefts, and more. Some small business owners have shared about allegedly losing thousands of dollars after being targeted, a few on multiple occasions.

Some tactics that different shops have taken when trying to protect against those crimes include proposing ideas like a 1% crime spike fee being added to transactions, increasing security, and locking up more items. Those thefts at the end of the day can in more ways than one end up costing consumers more. Repeated victimization of one small business or another can also ultimately result in that business closing up for good and moving elsewhere or vanishing altogether.

pics:
pixabay
Sources:
https://www.thv11.com/article/money/business/little-rock-pawn-shops-increase-sellers/91-b184edee-c609-4017-a0f5-461061fd6687
https://www.foxbusiness.com/lifestyle/inflation-people-desperate-cash-turning-pawn-shops
https://www.nydailynews.com/new-york/ny-pawn-shops-business-booming-20211119-4embmev74zhptpqsg7cfbm4dge-story.html
https://www.cnbc.com/2022/02/16/fed-up-with-rise-in-thefts-and-shoplifting-small-biz-owners-take-action.html