Millennials and Pawn Shops. Are they more related than you think?

Millennials and Pawn shops. How are they related?

When you think of a pawnshop, you probably do not think millennials. Are pawn shops and millennials related? Let’s start by defining “millennial”.

Who are Millennials?

“Millennials” are defined as the generation born between the early 1980’s to the late 1990’s. This particular age group has started showing more of an interest in alternative or second-hand shopping. This includes both pawn and thrift shops, here’s why…

Why Millennials need Pawn Shops

  1. Many millennials need access to fast cash but lack strong credit, which is why they turn to pawn shops. Pawn shops have readily available cash. According to a survey, approximately 42% of Millennials have obtained loans from pawnshops in the past 5 years. This idea contrasts the misconception that pawnshops are unknown to younger generations.

  2. In addition, millennials have developed a passion for vintage items. Some call this trend a “retro revolution”. Young people value the individuality and affordability of vintage items found in pawn and thrift stores. Style influencers and bloggers have played a huge role in the growing army of second hand shoppers. Millennials stress the fact that vintage shopping promotes individuality and steers you away from “looking like the person sitting next to you”.

More Perks to Second Hand Shopping

In fact, second hand shopping, especially for jewelry, provides treasure hunt like experience. The reward for the hunt is finding an awesome piece at a killer price. Pawn shopping creates an environment where millennials can take part in a marketplace that in a new way allowing young people to give new life to items that in some cases, were created before their lifetime.

So, before you store away your gold or jewelry or your grandmother’s necklace, remember to visit your local pawn shop because chances are, you’ll walk away with cash and you may make a second hand shopper very happy along the way.

Located in the Greater Los Angeles Area?

BG Loan in Bell Gardens, is the perfect place for you to get cash for gold and jewelry. It is also the perfect place to shop for one of a kind pieces. So, whether you are a millennial or not, we should try to find value in the individuality that pawn shops provide. BG Loan is the place for you, whether you are interested in buying or selling gold and jewelry.

So, let the treasure hunt begin!

Resources Used:

http://www.huffingtonpost.com/kate-black/the-multibillion-dollar-i_b_5319716.html

http://www.independent.co.uk/news/business/news/more-than-40-of-yoing-people-millennials-use-payday-loans-or-pawnshops-a6802206.html

By |2017-07-24T21:35:43+00:00July 10th, 2017|2017, Pawn|0 Comments

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Emilee Adamson

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