The Pawn Shops industry has performed poorly over the five years to 2018 amid falling gold prices and the recovering economy. Consumers who fall below the poverty line represent the majority of industry customers and consumers who are unemployed are more likely to use pawn services for emergency financial needs. While merchandise sales have grown in line with rising consumer spending, many consumers are returning to the workforce and no longer require pawn loans, limiting industry performance. As a result, industry revenue is expected to decrease during the current period. As the economy continues to recover, albeit at a slow pace, industry revenue is anticipated to slightly rise over the five years to 2023; declining national unemployment slowed growth in discretionary income levels and tightening credit is anticipated to rebound demand for pawn loans.
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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