Providing extra cash flow for back to school supplies during the month of August
DENVER, Aug. 15, 2012 /PRNewswire-USNewswire/ -- Pawngo, an alternative finance company, understands that the back to school season is a stressful time, not only for parents, but for students as well. Many parents are finding themselves cutting back their spending due to tough economic times. Pawngo has the answer; this August they will be offering loans with one full month of free interest to consumers who are in need of extra cash flow for all their back to school shopping needs. Additionally, the first fifty back to school shoppers who directly call Pawngo (1 (866) 499-2363) and reference this offer will get an extra $100 added to their loan offer.
National Retail Federation's 2012 Back to School spending survey conducted by BIGinsight, found that total back to school spending is expected to reach $30.3 billion this season with the average person spending $688.62 up from $603.62 from last year.* Combined K-12 and college back to school spending will reach $83.8 billion**, marking the biggest consumer spending event for retailers second only to the winter holidays.* According to the survey, eight in 10 (83.5%) back-to-college students claim that the economy is impacting their spending plans, a trend also evident in NRF's 2012 Back to School Survey.**
"Many people are looking for short term solutions to their immediate cash flow needs. Pawngo brings certainty back into people's lives, lending a helping hand, making sure your kids start the year off the right way with all their back to school needs, from the latest fashion trends, to new backpacks and supplies," said CEO of Pawngo, Todd Hills.
Pawngo was launched with Todd Hills' 25 years of experience in owning and operating more than 50 pawn shops. His mission was to bring convenience and credibility to the increasingly popular pawning industry. Now, Hills seeks to revolutionize the industry by expanding the breadth of Pawngo's product offering and delving into untapped markets with the new luxury division.
Loan amount requirements range from $500 to $1 million, Pawngo accepts a variety of products including; jewelry, watches, precious metals, diamonds, luxury handbags, DSLR cameras and equipment, Apple products, and musical instruments.
**About the Survey
NRF's 2012 Back to School and Back-to-College spending surveys were designed to gauge consumer behavior and shopping trends related to back to school spending and back-to-college spending. The surveys were conducted for NRF by BIGinsight. The poll of 8,509 consumers was conducted from July 2- 9, 2012. The consumer polls have a margin of error of plus or minus 1.0 percent.
BIGinsight delivers executives timely, consumer-centric insights from multiple sources. As a comprehensive resource of information, BIGinsight represents the voice of the consumer and provides knowledge to marketers regarding consumer views on the economy, personal finance, retail, lifestyle, media and domestic and world issues. www.BIGinsight.com
As the world's largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation's economy. NRF's Retail Means Jobs campaign emphasizes the economic importance of retail and encourages policymakers to support a Jobs, Innovation and Consumer Value Agenda aimed at boosting economic growth and job creation. www.nrf.com
* Total spending is an extrapolation of U.S. adults 18+
Pawngo is the first full-service online pawn shop in the US and allows individuals immediate access to the cash they need for life's countless unexpected moments without leaving the comfort of their homes. The secure, discreet online process enables consumers to conduct the entire transaction from the privacy and convenience of their own home. As evidence of the market for this unique lending model, the company to-date has funded $8.8 million. For more information, visit http://www.pawngo.com.