The Story of the Pawn Shop and the Customer

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In the 1930’s, many banks failed during the Great Depression. Pawn shops were often the places where people were able to acquire cash, and this is when people started trusting them. Customers knew they could get their items back at any time.

The United States has about twelve thousands of Pawn Shops. You can find them large or small, all filled with stories from people’s lives. Every day is different, and customers become part of your family as they’re a part of your lives just as much as you’re a part of theirs.

The average customer is between 25 and 45 years old, with a customer turnover of about 25%. Pawnbrokers say between 70% and 80% of pawned items are reclaimed by their owner. The higher the value of the item, the more likely the customer will pay back the loan.  If the valuable is something like jewelry and has a sentimental value for the customer, it is very likely that the customer will come back for it.

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