The negative economic impact resulting from events that have transpired within the last six months has been tremendous. An unprecedented closure of the economy has caused irreparable harm to small businesses across the country, forcing many to shutter their doors for good. Unemployment rose higher in three months of COVID-19 than it did in two years of the Great Recession. Yet despite the pandemic, Amazon doubled its net profit year over year to $5.2 billion, compared to $2.6 billion at this time in 2019. So what’s wrong with this picture?
There are many things wrong with this picture. While some couldn’t attend the burial of a family member, others could pillage and loot with impunity. While local shops were either closed or limited the number of people allowed inside to follow the arrows on the floor, Walmart reported that its profits rose 4 percent, to $3.99 billion, during the first quarter. This is a stark reminder of how the pandemic is boosting some retailers while hastening the demise of others.
More than 260,000 stores have been temporarily closed due to the coronavirus outbreak, all but bringing business to a halt for many companies that relied on in-store shoppers to drive the bulk of their revenue. Consumer spending has dropped precipitously, but the disruption is not limited to the businesses themselves. Industrial production, trade, and supply chains are all collateral casualties from this financial fallout.
What can YOU do?
Support your local businesses. These companies employ people from the communities in which they operate. Those people spend their paychecks within those communities to some extent – at restaurants, other small businesses and so on. Keeping the monetary activity close to home has local benefits, as opposed to increasing the bottom line for some nameless distributor overseas.
How can Metro Pawn & Gun help?
It may come as a surprise to some people that our pawn shop offers as wide a variety of merchandise as we do. We carry handguns, rifles, shotguns, jewelry, coins, gold, silver, car audio, home electronics, game systems, tools and many more items too numerous to list. And where else can you go when you need some quick cash for items of value in these difficult times? While we may not be the destination for groceries or bedding or Birthday cards, we do cover a lot of ground! And the best part is we are a local, small business that YOU make possible. Without YOU, we would not be here. And for this, we sincerely thank you!
As always, check our site for the most current information.
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