US EditionPawn Shops: The Surprising Back-to-School Shopping Destination
Tariffs on imports have driven up prices on clothes and shoes by over 1%, leading families to turn to pawn shops where items cost up to 50% less, industry leaders say.
- Pawn shop owners reported seeing more Americans shopping for back-to-school essentials amid rising prices in July across the US.
- This surge follows tariffs on imports from China, Vietnam, and Cambodia, which raised prices on clothing and shoes by 1.4% and 0.1% in July.
- EZPawn reported a 4% rise in merchandise sales last quarter, driven by increased demand in popular back-to-school items such as footwear, electronic devices, and computers, while maintaining prices nearly half those of leading retailers.
- Nick Fulton of USA Pawn observed that customers are increasingly selling their gold and jewelry to take advantage of the elevated gold prices, which have risen 27% since January to $3,400 an ounce.
- Pawn shops help struggling clients by loaning money on merchandise or selling items cheaper, reflecting broader economic stress as families plan to spend 2% less this season.
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Pawn shops: The surprising back-to-school shopping destination
Americans started shopping for back-to-school earlier this year, fearful tariffs would raise prices. Families looking for deals and with tighter budgets are finding that in a less traditional place: pawn shops.
·Atlanta, United States
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Total News Sources8
Leaning Left1Leaning Right0Center7Last UpdatedBias Distribution88% Center
Bias Distribution
- 88% of the sources are Center
88% Center
13%
C 88%
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