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This was an exceptionally good sale. The owners decided to close the store because there were too many pawn shops in this small market and the store was not making enough money to justify staying in business. We were told that starting inventory at cost was $265,000. On Thursday, Friday and Saturday the first three days of our Pre-Showing sales ran a little over $116,500. The owner’s were tired but happy!
We are facing highly unusual times. Stores in many states, cities and counties have been forced to close, and the consumer has been encouraged to stay at home and only shop for necessary items. It now appears that things are beginning to break open, the consumer is starting to get out and retailers are going to have to aggressively go after every dollar they can get to cover lost sales.
The retail industry has lost their good spring selling season. Retailers are stuck with two seasons of merchandise. Now they must reopen with a strong sale and heavy advertising to generate customer traffic and raise a huge amount of cash. Out of season and over stocks need to be converted to cash while in season merchandise needs to be sold to make as much profit as possible. AND IT NEEDS TO BE DONE AS SOON AS POSSIBLE!