January 28, 2016
28 January 2016
“If you’re not offering finance then you’re losing customers”
FIT Show Seminar — Weds 13th April 1.30pm
“If you’re not offering finance, then you’re losing customers” that is the key message of Consumer Credit Solutions’ seminar at this year’s FIT Show (Wednesday 13th at 1.30pm).
Finding new customers and closing sales is a priority for all Glass & Glazing businesses. But as 49% of UK households have less than £1500 in savings, that’s thousands of potential customers who are unable or unwilling to purchase home improvements if the only option available to them is cash.
In a 2015 survey, conducted by Hitachi Capital Consumer Finance, 83% of consumers stated that retailers offering finance heavily influences their decision to buy. Promotional credit, including low rate, interest free and buy now pay later, is proven to generate more leads, close more sales and increase order values. Purchases made on finance are less likely to be cancelled than cash deals, which increases sales and creates a better return for your marketing spend.
There are other benefits too; despite reports in the trade press of a downturn in the G&G sector, there is no indication that sales on finance are slowing down. In fact, there is clear evidence that companies promoting credit are outperforming the market and their competitors.
This has certainly been the experience of CCS client Safestyle UK. The company’s Chief Executive, Steve Birmingham, has stated that the successful roll-out of its enhanced consumer finance offer has helped drive growth, despite a weaker market. The business has also seen a strong start to 2016 and is confident of building on the progress made in 2015. CCS work with companies of all sizes, from family-run businesses to large regional and national brands, and most are reporting similar success with finance.
Alex McCulloch, Head of Business Development, said: “As part of our seminar I’ll be explaining how straightforward it is for businesses to become authorised to offer finance, and the benefits they can expect, such as higher sales and order values and, most importantly, greater profit.
“More and more homeowners expect to be offered finance to help pay for home improvements, even if they have the cash, but not all G&G installers are moving with the times and reaping the benefits. Using finance often leads to bigger order values, as homeowners don’t have to compromise on their dream conservatory or windows.”
Founded in 1999, Consumer Credit Solutions is the UK’s largest independent provider of point-of-sale credit to the home improvement sector. Last year the business paid out almost £250million, the highest amount in its 16 year history and an almost 20% increase on 2014.
To find out more visit CCS in Hall 1 Stand 117 at the FIT Show, 12-14 April, Telford International Centre.
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