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Pawn America Extends Store Hours, Boosts Sales 10-15% at Multiple Locations
Pawn America extended store hours after using Placer to analyze nearby competitor and retailer performance, resulting in a 10-15% increase in sales and loan balances across multiple Minnesota and Wisconsin locations.
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1
hour time extended
+15%
increase in loan balances
+10%
increase in sales
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The Challenge
Pawn America, with 17 stores across Minnesota and Wisconsin, always strives to improve performance. When Placer data showed that competitors and nearby tenants stayed open later they wondered if changing store hours could help them outperform competition and capture higher evening traffic.
The Outcome
After extending their closing times from 7 PM to 8 PM, multiple Pawn America locations saw a 10-15% increase in loan balances and retail sales within the first month. Stores like Roseville, MN, saw substantial growth in traffic and loan balances, while Fridley, MN, experienced record-breaking jewelry sales.
Before Placer, we never had insight into our competitors' traffic unless we physically observed it. Now, we can see how they perform and make operational changes right away. One month after extending our store hours to match theirs our loan balance grew by 15% at one store and sales by 10% at another, and the results continue to improve. Placer works.”
