HOUSTON and GUADALAJARA, Mexico, Dec. 21, 2022 /PRNewswire/ — Roberto Aramburo, CEO of the leading pawnbroker corporation Globcash, has identified top trends that will shape the industry in 2023. As a seasoned business leader with over two decades of experience in the industry, Aramburo has a unique perspective on the sector’s future.
According to Aramburo, one of the biggest trends set to dominate the pawnbroking industry in 2023 is the increasing adoption of technology. With the rise of online platforms and digital tools, pawnbrokers are turning to technology to streamline operations, improve customer service, and reach a wider audience.
That includes the growing use of online valuation tools, digital marketing campaigns, and e-commerce platforms for buying and selling secondhand goods.
Another trend that Aramburo predicts will continue to gain momentum in 2023 is the focus on sustainability and ethical sourcing. With consumers becoming increasingly conscious of their purchases’ environmental and social impacts, pawnbrokers are turning to more sustainable and ethical sourcing methods to meet this demand. This may involve sourcing secondhand goods from local thrift stores, partnering with charities, or implementing eco-friendly business practices.
Aramburo expects a third trend in the pawnbroking industry in 2023: expansion into new markets. As the sector continues to grow and evolve, pawnbrokers are looking to enter new markets and diversify their offerings.
Based in Guadalajara, Mexico, Globcash has already announced its intention to start operations in different European countries, while it is working on expanding its presence in Central America.
Overall, the trends in the pawnbroking industry for 2023 are set to be driven by technology, sustainability, and market expansion. By embracing these trends, pawnbrokers can stay ahead of the curve and thrive in an increasingly competitive market.
Roberto Aramburo has been the CEO of Globcash since 2013. This leading pawnbroker operates more than 200 stores in Mexico and Guatemala while planning openings in El Salvador and the United States.
Globcash has been growing consistently over the past decade, including 2020, when the COVID-19 pandemic barely impacted the institution.
As of September 2022, it registered revenues of over 33,4 million USD, with an EBITDA of around 15.54 percent, or 5,18 million.
The company, founded in 1985, operates 194 pawn shops in Mexico under the brand Casa Mazatlán.
At the present moment, Casa Mazatlán is present in several Mexican states, including Durango, Sinaloa, Sonora, San Luis Potosí, Veracruz, Baja California Sur, Michoacán, Oaxaca, Tabasco, Nayarit, Yucatán, Quintana Roo, Campeche and Chiapas.
At the same time, the corporation operates 23 establishments in Guatemala, which it opened in 2008.
The business of Globcash is thriving in a safe industry with no risk exposure. Due to its business approach, it can provide non-bank loans to customers without requesting their credit history or income documentation.
Clients must deposit tangible collateral in exchange for loans, which are given on advantageous conditions with flexible payback terms.
A significant part of its inventory, which exceeds 11 million USD, is made out of gold and silver reserves.
In Mexico, more than 13 million people use pawning as one of their primary sources of financing. Glocash offers quick and easy access to financial solutions, particularly for underbanked or credit-challenged customers.
Globcash, through Casa Mazatlán, is one of the top three private players in the Latin American pawn market.
In addition, Globcash is investing in developing a strong and relevant technological presence and is working on digitizing the pawn industry through propietary developments.