Sell more products with retail finance - Find out more at OTS 2014
Posted on in Outdoor News
Retail finance is widely available on the high street and customers are beginning to expect the option of finance to be available in retail shops, particularly on big-tickets items 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 up-selling. In the current economy, where acceptance for bank loans can prove difficult or are extremely costly (up to 5853% APR!), finance is the answer for many consumers.
Results of a recent survey showed that finance positively influenced 93% of consumers.
- 71% would have postponed their purchase had finance not been available
- 57% made their purchase because finance was available
- 52% would have bought elsewhere had finance not been available
- 50% would have spent less if finance had not been available
The scheme has grown significantly in recent years and now boasts a retail network of c.650 stores nationwide and financed sales of over £60m p.a. The scheme is expected to get ever bigger, having already seen a 118% growth so far this year!
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 has been created to help give retail finance an instantly recognisable identity for the angling and guns market.
The Take it outdoors website - www.takeitoutdoors.co.uk - gives retailers enhanced promotion making it easier for customers to find their local shop offering Take it outdoors 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.
Putting the retailer in control
With a range of APR's 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.
Find out more
Take it outdoors will be exhibiting at this years Outdoor Trade Show, 9th - 11th September on stand 14. Come along to find out more, or visit www.takeitoutdoors.biz or call 0845 618 7256.
