Pawn Shops in the UK - Industry Market Research Report

More loans: Industry revenue is expected to rise in 2023-24 as demand rises due to increasing inflation

The Pawn Shops industry's revenue is expected to grow at a compound annual rate of 1.4% over the five years through 2023-24 to reach £355 million. Weak growth in real-household disposable income raised the demand for short-term loans at the beginning of the period. The introduction of tighter lending standards for unsecured loans has also spurred strong demand for pawnbroking loans. Loans are secured against collateral, enabling pawn shops to offer more competitive interest rates than other forms of high-cost short-term credit. Retail sales are also likely to have recorded robust growth, with consumers recognising the value-for-money proposition offered by the industry. Operators in this industry offer secured loans to individuals, who then provide items of personal property as collateral. Pawn shops also retail used goods that are often acquired from unpaid loans or are purchased directly from consumers. The industry excludes income generated from unsecured lending activities. 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.