MoneyMax Revolutionises Pawnbroking Industry With Launch Of MoneyMax Online
MoneyMax Revolutionises Pawnbroking Industry with Launch of MoneyMax Online http://infopub.sgx.com/FileOpen/MoneyMax_Online_Launch_Press_Release.ashx?App=Announcement&FileID=334358 http://business.asiaone.com/news/moneymax-hopes-woo-new-clients-online-service http://moneymax.com.sg/about-us/company-profile http://www.computerworld.com.sg/tech/industries/e-commerce-gains-popularity-in-singapore-fedex-express/ http://www.best-management-practice.com/gempdf/service_strategy_contents.pdf Smart move because:
a) Reaches out to the new generation, tech-savvy
b) Traditionally known as ‘poor man’s bank’, holds a stigma that no one would want to go into the shop. Pawnshops were once viewed negatively in the past and only a place for people to go whenever they are in debt. However, with the modernization of pawnshops along with their open and transparent culture, pawnshops in Singapore are becoming a trusted financial service provider for everyone. Surely there will still be people with that mindset, and with the online platform, it reduces the frequency or the need to go into a pawnshop till you really need it. Can access the valuation online.
d) Get the results almost instantly, within 1 business day. On the move, anywhere, anytime. Increases the chances of eyeball views as compared to having people stepping into the pawnshop (due to embarrassing reasons; and the stigma of walking into one), and higher chances of purchases of the auctioned items. Free shipping somemore!
I also think that it is a smart move not to expand to other regions so quickly, despite it being a fresh move. By choosing to monitor the traffic first helps the business to obtain important information to better plan for its future business strategy; not making a hasty decision. Test water with less risk. Even though each country has its specific requirements and complexities, being able to meet customer expectations in the initial markets helps to ensure success as SMEs expand their reach.
Being the
a) Reaches out to the new generation, tech-savvy
b) Traditionally known as ‘poor man’s bank’, holds a stigma that no one would want to go into the shop. Pawnshops were once viewed negatively in the past and only a place for people to go whenever they are in debt. However, with the modernization of pawnshops along with their open and transparent culture, pawnshops in Singapore are becoming a trusted financial service provider for everyone. Surely there will still be people with that mindset, and with the online platform, it reduces the frequency or the need to go into a pawnshop till you really need it. Can access the valuation online.
d) Get the results almost instantly, within 1 business day. On the move, anywhere, anytime. Increases the chances of eyeball views as compared to having people stepping into the pawnshop (due to embarrassing reasons; and the stigma of walking into one), and higher chances of purchases of the auctioned items. Free shipping somemore!
I also think that it is a smart move not to expand to other regions so quickly, despite it being a fresh move. By choosing to monitor the traffic first helps the business to obtain important information to better plan for its future business strategy; not making a hasty decision. Test water with less risk. Even though each country has its specific requirements and complexities, being able to meet customer expectations in the initial markets helps to ensure success as SMEs expand their reach.
Being the