Pawn shops are regaining business years after the start of the COVID-19 pandemic, despite record-high inflation across the U.S., shoppers hope the price is right.
Advisor Group chef strategist Phil Blancato and Baird PWM market strategist Michael Antonelli discuss recession fears in the U.S., the Fed's handling of inflation and how investors can navigate the market.
"For four years, I pitched the reality show and people just kept telling me that no one wanted to watch a show about four fat guys in a pawn shop," he joked."It took a while to climb out of it, but it was slow and progressive."to it were not affecting the economy, so Harrison said the recession in 2008 was a more naturally occurring situation.
The Pawn Stars Las Vegas store, Gold & Silver Pawn Shop, is regaining the foot traffic lost during the pandemic."Pre-pandemic, I was averaging right around 3,000 customers a day. Then the pandemic happened, and in April 2020, at a $325,000 payroll and $48,000 in sales," Harrison said, "I mean, it was a ghost town in here."
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