Pawn Shops & Fast Food “Booming” thanks to COVID Pandemic

May 2, 2020

Rob Lauer Political Reporter

With Pawn Shops and Drive thru and delivery food restaurants labeled essential businesses by most governments their profits are soaring in the COVID 19 economy. Popeye’s Chicken just reported their earnings are up 26% in the first quarter and Domino’s Pizza was up 18% over this time last year. With people short on money and uncertain about when and if their jobs will return saving money on food is driving folks to cheap fact food options. And since all the restaurants’ dine in sections are shut down, restaurants with established drive thru and delivery services are killing it.

Pawn Shops are also doing great in the pandemic. As underemployment hits 20% in Las Vegas and DETR’s has failed to step up and quickly provide unemployment payments, some folks are forced to sell stuff at pawn shops just to get by. “We’ve seen a big onslaught of people coming in, people that are needing help with financial burdens and stuff due to COVID-19, and not being able to get a paycheck right now,” said sales manager at West Quincy Pawn James Miller.” Your standard loan is for 30 days, but we know things are bad,” he said. “Call us, let us know we will work with you the best that we can to help us through this because we want you to get your stuff back.” Hammond said even cars, trucks, and motorcycles have been brought in by people short on cash recently.

But gun and ammo sales are driving sales sky high at pawn shops right now. Home electronics are another elevated sales segment at pawn shops right now, because people now are working from home, stuck with kids to watch. Laptops and video games are flying off the shelves at pawn shops. Stimulus checks and tax refunds are also a big sales driver at pawn shops. Car dealerships usually see a boost from tax refunds, but his year their show rooms are closed by order of Gov. Sisolak, so folks are buying stuff at pawn shops instead.

Every economic condition has winners and losers. But fast food and Pawn Shops seem to do great no matter the economic conditions.