National Pawnbrokers Association launches national advertising campaign

The National Pawnbrokers Association (NPA) has launched its first national advertising campaign in a bid to raise awareness of pawnbroking. 

The campaign, which will run until January, will appear on major newspaper websites  including the Daily Mail, and in national newspaper magazine supplements, including Stella and The Sunday Times Magazine.

The [inlinetweet prefix=”Demo Tweet” tweeter=”@Jewellery_Focus” suffix=”from Jewellery Focus”]campaign aims to raise awareness of pawnbroking[/inlinetweet] among middle income earners, explaining how it works to increase its appeal as an alternative form to credit.

Ray Perry, chief executive of NPA, said: “This campaign has been created to increase understanding in a section of society that is unfamiliar with the reasonable rates of interest, between 3% and 10% per month that pawnbroking can offer.

“The pawnbroking market is now worth £920 million, of which the fastest growing [segment] is middle-income earners who represent some 8%. We aim to reach out to the 25% who would be interested in pawnbroking to explain how it works.”

The NPA conducted research in 10 UK cities to understand the barriers that prevent members of the public using pawnbroking for the first time. Results showed that people’s awareness of the industry was low or they simply did not understand how the pawnbroking process works. Some 25% said they would consider pawnbroking in future once the process had been fully explained.