The Pawn Shops industry has declined over the past five years amid falling gold prices and the recovering economy. The gold rush, coupled with persistent unemployment, led to a boom in demand for the industry through 2012. However, as economic conditions continued to improve in subsequent years, both unemployment and gold prices began to fall, causing the industry's decline. Moving forward, low-income households will continue to comprise the industry's core consumers, keeping sales buoyant and profit margins relatively stable. Nevertheless, the improving economic outlook is forecast to temper industry demand, as consumers who were previously forced into pawn shop patronage will gain employment and opt for alternative financing sources. As a result, industry revenue is projected to decline over the next five years.
Companies in this industry offer secured loans to individuals, who then provide items of personal property as collateral. These companies also retail used goods that are often acquired from unpaid loans or purchased directly from consumers.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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