Research company Apex Insight has published a report on its study into the pawnbroking market, charting its rise with nearly 2,000 stores in 2013 before its subsequent decline. 

Apex found that market growth between 2009-2013 was largely driven by a significant increase in the number of customers in the sub-prime segments as a result of the economic downtown as mainstream banks become less inclined to serve this demographic, a sustained rise in the gold price leading up to 2011-2012, a more favourable regulatory environment for high-cost credit and an increase in availability of retail space following the decline in the high street. 

The report also found that the pawnbroking market has become relatively concentrated as a result of seven large chains having rolled out their store networks in recent years. 

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