PayMore to launch 100th electronics store in Charlotte, North Carolina

Core Insights - PayMore, a US-based electronics franchise, is set to open its 100th store in Charlotte, North Carolina, marking a significant milestone in its expansion strategy [1][2] - The company has opened 19 new locations in the second quarter of 2025 and aims to reach at least 150 stores by the end of the year [1][2] - PayMore's store count has surged by 500% over the past two years, indicating rapid growth in the retail sector [2] Expansion and Growth - The new store in Charlotte is scheduled to open on September 22, 2025, contributing to the company's ambitious growth plans [1] - PayMore co-founder and CEO Stephen Preuss Sr highlighted that reaching 100 locations is a significant achievement, especially as many retail brands struggle to expand beyond a few stores [2] - The company has over 500 stores in development, representing less than 1% of global franchises, showcasing its aggressive growth strategy [2] Business Model and Consumer Trends - PayMore's business model focuses on buying unused devices from consumers and selling certified pre-owned electronics, which aligns with current consumer expectations for value, sustainability, and safety [3][4] - A study by Morgan Stanley predicts a decline in consumer spending to 3.7% in 2025 from 5.7% last year, particularly affecting lower and middle-income consumers [4] - The company emphasizes data security and environmental impact, with its e-waste recycling programs having kept over one million pounds of electronics out of landfills in 2024 [4][5] Community and Partnership - The opening of the 100th store is seen as a significant milestone in the partnership between PayMore and its franchisees, reflecting the strength of its business model [5][6] - The company expresses gratitude towards its loyal customers and acknowledges the contributions of its team in achieving this growth [3][5]