Pawn shops prosper amid coronavirus pandemic

TUPELO, MISS. (WTVA)- While the coronavirus has put many industries in financial hardship, the pawn shop industry is still prospering through hard times.

Mike Kidd, owner of Mike’s Pawn Shop, says he can’t keep anything in stock.

“With the stimulus checks combined and put out in increments it’s been something I’ve never seen before,” said Kidd.

Kidd says sales has nearly doubled in the last month alone.

“Weapons have been the number one seller. We’ve sold over 200 hand guns in 3 and a half weeks. TVs have flown out the roof,” said Kidd.

And it’s not just Mike’s Pawn Shop. Empty TV and gaming sections are becoming a more and more common sight all over the city.

Getties says she had to go to four different pawn shops to find a play station 4 for her daughter.

“It seems like I’ve been all over to east Tupelo trying to find one. I tried to find one online, so I came to mikes trying to find one but of course their out,” said Getties.

While it’s been a blessing for many, Getties says it’s best to save the money now in case you need to get out of the woods later.

“That stimulus money isn’t for games and stuff like that. That’s for something that’s really serious,” said Getties.

Kidd also says around this time of year people tend to have more cash on hand.

This caused many to stop pawning thing and start buying this from the pawn shop instead.