Current Trends for the Pawn Industry Hello to all
Pawn Shops Early Indicators of Economic Struggles
It has long been known that Pawn Shops are one of the first industry’s that feel the impact of economic swings and are early indicators of economic struggles.
CEO of Chase Manhattan Bank Just Said “There is an Economic Hurricane Heading our Way Rapidly” in the USA and beyond!
The economy is sliding off the upcoming overpass with no bridge on a train running a hundred miles per hour, and we ARE all onboard!
IN an abundant effort to eliminate fossil fuels by the current administration, with the significant push to force green agendas and more on the USA Populous, inflation is crushing the country and our people.
Energy costs are the #1 cause of the inflationary activities going on in our country right now!
As a result, we have gone from a net exporter of energy and being energy independent, to now having to rely on our adversaries, many of which who are not friendly to our country.
In this process we are also exhausting the nations’ energy reserves which is extremely dangerous in our humble opinion.
Inflation is rising far faster than income is, millions of American’s are struggling today just to buy gas and food alone. Not too mention the skyrocketing costs of everything else, including housing, insurance, cars, CREDIT, and everything!!
Were running out of food and other reliable staples at an alarming rate as well!
Pawnshop Consulting Group is tracking in real time many operators of pawn shops in the USA and around the world today.
Pawnshops Do act as a bell weather or indicator of what the economic waves are doing.
As a leading industry consultant, I have often said throughout my near 50 year history in the industry, “we are recession and depression proof, as this is one of the only industries that WE control the price we pay for the product”.
Having said that, what we are currently witnessing is quite alarming and here are a few statistics on the industry currently:
- Pawn Loans are in a sharp increase Q1/Q2 of 2022 + 18% AVG over 2021 Same Periods
- Customer Buys also in a sharp increase same time periods, up more than 25%
- PFI – Pawn Forfeitures are on the uptick, up about 14% as a floating AVG same time periods
- Loan Yields – decreasing in many markets in the USA – high yield markets down about 12% AVG
- Inventory Sales – Down, more than 18% same time periods compared to 2021
- Aging Inventory Stacking UP
- Inventory levels increasing
- Operating Expenses Moving UP
- Operating Income Moving Down
- Return on Revenues & Assets are declining – rapidly in some cases
Pawnshop Consulting Group will be hosting our UPDATED Community Call on Financial Metrics on Steroids along with the Current Financial Trends for Q1/Q2.
This call will examine the early trends of 2022 what we are witnessing in real time, along with a number of factors impacting the Pawn Industry today and much more.
Date is set for June 23rd at 10:30 AM CST in the USA Central Standard Time
Our environment is changing rapidly in the United States today!
Pawnshop Consulting Group is witnessing the current financial trends up close, and up front with the significant amounts of data we collect and track from extensive active global client activities.
This is a FREE Community ZOOM call and space IS limited, you may sign up directly at the link below, and hope to see the many who are paying attention to their business on the call with us!
You must sign up to be on the call, use this link:
Zoom Link – Financial Metrics on Steroids and Current Industry Trends – Pawn Shop Industry – June 23rd at 10:30 AM CST in the USA
Are YOU Prepared?