Pawnbroker
2/6
Service design of Pawnshop
Pawnshops is an informal trade market that loans money in return of depositing a valuable item for a certain amount of time. Pawnbroking is one of the oldest professions of the the modern civilization. Existing pawnshops are infamous for being cruel to the lowest socio-economic groups in society by offering low loans and higher interst rates. interestingly, pawnshops have found themselves with new meaning of existence in todays consumer culture typical of discarding new products for newer ones.
Service Design is an emerging discipline that applies design thinking into businesses and services .The project was an exercise in redesigning the pawnshop using the service design tools and frameworks.
With inclusion of new stakeholder “BORROWER“,I encourage pawnshops to expand their service into renting the pawned products before they are available back to the pledger and thereby create revenue. An app allows the pledger to search from a list of
