NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com | Consumers Turn To Pawn Shops To Pad Holiday Budgets
As shoppers comb the Black Friday ads, more and more are trying to pad their holiday budgets.NewsOn6.com
As shoppers comb the Black Friday ads, more and more are trying to pad their holiday budgets.
Pawn shops nationwide are seeing an increase in the number of pawns this month. At Kirk's Pawn in Oklahoma City, business is up 12 percent.
It's the biggest jump in the store's 24 year history. In years past, the number of pawns has only fluctuated 1-to-2 percent in November.
The owner says the increase is due to more people needing fast cash for Black Friday and Christmas.
Customers agree.
"Paychecks don't stretch as far as they used to, gotta make a little extra money for the Holidays," said Ted Tyner, pawn shop customer.
While pawns are up, the Association of Pawn Brokers says the retail side of the business is down. They hope the frugal shoppers anticipated this season will go to pawn shops for discount finds.
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