Online Shops
Online Pawn Shops
November 15, 2011 | 
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As our nation’s economy has been declining and struggling to recover for nearly a decade, the finance industry has changed with the times. Payday lending and other short-term financing services are now mainstream funding options for many Americans. Despite the predatory practices and unreasonable interest rates, alternative funding sources are beginning to become the norm – including pawn brokers. Pawning personal items for quick cash is now so common that reality shows like Hardcore Pawn and Pawn Stars and even documentaries like Broke. The Documentary are emerging as slice of life evidence that America’s economy is evolving in the 21st Century. However, all pawn brokers are not ruthless capitalists who prey on the poor, and not all pawn shops are created equal.
Combating the image of shady dealers and miserly lending associated with local pawn brokers, online pawn shops seek to attract upscale clientele who have hit hard times. Offering larger loans (up to $1 million) and the discretion of electronic transaction, online pawn shops seek to change the image of pawn brokerage and offer short-term financing to a market that has the ability to repay or at least valuables that can be resold for sizable profits. Attempting to appeal to a middle-class market that is largely new to the need for such short-term financing options, the best in the business have created a new look and feel to pawn brokerage that could change the way brick-and-mortar pawn shops brand themselves in the future.
The leader of the pack in the online pawn brokerage industry is Pawngo, a company that targets the affluent (or once affluent) who are experiencing financial hardship and have luxury items to use as collateral for short-term loans. From Louis Vuitton bags to Cartier watches to Picasso paintings, valuable personal assets are pawned via the internet, allowing patrons who may be reluctant to visit local pawn shops the opportunity to get the cash they need with the discretion they desire. Typical loans from Pawngo average roughly $1,700, 17 times the $100 pawn-industry average. (1)
Another major benefit to using online pawn shops for short-term financing is that pawn brokers do not report to credit bureaus. If you default on your loan, you simply lose your collateral. So, borrowers who are protective of their credit ratings can use this funding option to achieve their goals without fear of digging themselves deeper into financial ruin.
While online pawning is attractive for a number of reasons, the loans themselves are still non-traditional, and bring with them exorbitant interest rates. At Pawngo, for example, terms are for three to six months, at a maximum of 6 percent interest, but that interest is accrued every month. So, if you keep a $2,500 loan for three months, the interest due is $150 per month, totaling $450 in interest, with the annual percentage rates ranging from 48 to 84 percent, depending on the loan amount. (1, 2) Loan extensions make this figure jump even higher. The loans are still pawn shop quality, just without the social stigma of being spotted hocking the family jewels on the wrong side of town. However, with all things considered, online pawn shops can provide very comfortable loan options and positive pawn experiences for qualified borrowers who need cash fast without risking their credit score or their reputation.
(1) http://www.smartmoney.com/borrow/debt-strategies/pawnshops-go-upscale-and-online-1304613626407/
(2) http://bucks.blogs.nytimes.com/2011/06/30/an-online-pawn-shop-that-seeks-to-go-upscale/
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How to Check the Reliability of Online Shops
Online shops, including those hosted on Blogger and LiveJournals, are springing up like flowers after the spring rain, thanks to the widespread availability of the internet. Off-line shops have also found it de rigeur to have an online presence. While the internet opens up to shoppers a wonderful array of choice and styles at our fingertips, there are also cases whereby shoppers are cheated by scam websites.
Here are 10 tips to help you establish the reliability of online shops that you are not familiar with:
#1. Do not be anxious to purchase from the online store if you are not sure if it is safe. Observe its online activities for a while. Does the store update new items regularly? For fast paced consumer goods like ladies fashion, the updates are usually made weekly, if not every few days. If the shop has no updates for months on end, then, probably nobody is manning it.
#2. Sign Up to be on the store’s mailing list. A legitimate store will want to garner potential customers to be on their mailing list. After signing up for the shop’s mailing list, you should receive updates from the store. If all seems quiet, then I may have some question marks on the store.
#3. A good way to check if the store is ‘legitimate’ is to send an email to the customer service to test their response. Did you receive any reply from the store? Was the reply prompt or did it take, say 2 weeks to get to you? A prompt response of between 1 to 3 days (maximum) is usually the expected response time.
#4. Another good way to reduce the risks of online clothes shopping is to purchase from shops with positive feedback. Testimonials are a way of finding out if the customers are generally happy with their purchase. Usually the stores will publish the testimonials online.
#5. Google the name of the shop and see if the store is discussed by forums and websites / blogs. Such discussions may be helpful in finding out if there are any complaints and problems the store may have.
#6. Check for reviews and ratings of the shop. Some online shops are reviewed by online shopping directories, which is likely to show up when you Google for the shop (see Tip#5). Follow the links of these online directories that the store is listed on to see if there are any reviews made.
#7. Look at the merchandise of the store. Are there sufficient details provided to help you make an informed selection? Serious stores should provide the necessary information to help their customers select their merchandise. For example, does a fashion store provide specific measurements of the clothes made? Are there efforts taken to ensure that the shopper knows what he/she is getting?
#8. Read the payment details.What kind of payment methods are available? Does the shop accept PayPal or even better, are they PayPal Verified? PayPal Verified means that PayPal has conducted a verification process on the reliability of the PayPal account that you are paying to. If you are not sure about the store, avoid paying via direct wire transfer. Paying via a secured means like PayPal allows you the opportunity to dispute the charges if indeed there were problems with your purchase.
#9. Does the shop venture beyond its online shopfront to the social networking sites like Facebook? Social networking sites are another means of garnering customers, so legitimate shops would want to be part of it. With the many ‘Friends’ of the shops out there, it is hard for an online store to be of dubious standard.
#10. Last, but not the least, check if the shop is registered with any local authorities. For example, in Singapore, stores are required to be registered with the Accounting and Corporate Regulatory Authority (ACRA) and as a consumer, you can request for the details of the shop from the ACRA.
Armed with these tips, it shouldn’t be difficult to choose the reliable stores from which to purchase. Just be alert to the above, and you’ll enjoy a safe online shopping experience!
Online Shops For Your Favourite Indian Fabrics
There are many ways of buying a these Indian fabric. Some people like to go for cotton or jute or south cotton or voil fabrics etc. while others may prefer satin, crape, silk, synthetic and so on. Many prospective buyers at times go in for a particular color also. It is worth mentioning that while selecting one’s taste of fabric, one needs to be very patient. It is not every time that you get what you want. Thus, there are many times when you are required to do market surveys about the product you wish to buy.
People purchase Indian fabrics for making suits, kurtas, fish cut lehengas etc. While others may even buy running dress materials for sarees, evening gowns, long skirts and so on. Nowadays, getting a fabric is not a problem. Every place offers a different design and a wide variety of the same.
With changing times, people are being driven by the concept of online fabric shopping from India. These online stops cater to the growing needs of the masses. Young and old generation enjoy spending time in air-conditioned rooms and along with it they buy their favorite fabrics.
Indian fabrics have always been attraction for west. Online stores from India are now catering to the needs of the people from west, who really need to enjoy the Indian fabrics.
Despite getting ready made dresses, the craze for buying an Indian fabric as per one’s choice and comfort has sustained till today. The best thing about wearing what you select is that one feels good and proud of the attire. The best part is that in such a hectic life, people can easily shop for one’s favorite fabrics online. This is absolutely amazing for the people who wish to go for Indian fabrics.