Retail finance is a powerful sales tool for dealers, allowing customers to get the products, clothes and accessories they want without breaking the bank.
Retail finance is widely available on the High Street and customers are beginning to expect the option of finance to be available in retail outlets, particularly on big-tickets items that they wouldn't usually be able to afford in a one-off purchase.
It is a proven sales tool for turning browsers into buyers and boosting profits by upselling.
In the current economy, where acceptance for bank loans can prove difficult or are extremely costly (up to 5,853 per cent APR!), finance is the answer for many consumers.
Results of a recent survey showed that finance positively influenced 93 per cent of consumers.
* 71 per cent would have postponed their purchase had finance not been available;
* 57 per cent made their purchase because finance was available;
* 52 per cent would have bought elsewhere had finance not been available;
* 50 per cent would have spent less if finance had not been available.
However, as with all sales tools, one of the easiest ways to encourage customers to use it is by letting them know that it is available.
Take It Outdoors
Take It Outdoors has been created to help give retail finance an instantly recognisable identity for the angling and shooting markets.
The website, www.takeitoutdoors.co.uk, gives retailers enhanced promotion, making it easier for customers to find their local shop offering this retail finance.
The site also highlights the key benefits of buying on finance via the scheme and helps customers work out how much they can afford if buying on finance with an easy-to-use finance calculator.
The scheme has grown significantly in recent years and now boasts a retail network of around 650 stores nationwide and financed sales of more than £60 million a year.
The scheme is expected to get ever bigger, having already seen a 118 per cent growth so far this year!
Putting the retailer in control
With a range of APRs and loan durations available, as well as interest-free and interest-bearing options, the retailer is in control, having the flexibility to adapt the offer depending on the product or the customer.
For example, Take It Outdoors retail finance can be used to shift end-of-season stock as opposed to discounting.
Temporary finance promotions can be offered in place of a standard discount to reduce the hit on profit margins.
Take It Outdoors
T: 0845 618 7256