Offer Consumer Finance Options and See a Boost in Business
The National Retail Federation has good news for business owners – a 4.1 percent sales boost is expected over last year’s totals. That doesn’t sound like much, but retailers are expecting to hire up to 800,000 employees to handle the seasonal traffic. To get a chance at pulling in some of that extra revenue, make sure you’re offering consumer finance options.
There is more to preparing for the impending surge of business than just putting up the appropriate decorations – your website says a lot about how prepared you are to offer consumers what they want. You have to remember that even if your sales come mostly through your brick and mortar stores, your customers are doing the bulk of their research on items they want by going online first. Make sure your website is running optimally, and consider taking another look at your mobile site and ensuring that it is user friendly.
If you’re a small operation, you know by now that you may not be able to compete with the prices that the big box stores offer. However, you can make stronger connections with your customers than they can, so stay true to your values and pull in customers with your unique qualities. You probably won’t have the luxury of offering storewide sales, so instead focus on your core items that you can package in a promotion.
Another useful tip that other retailers have employed for the Holidays is extending their hours of operation. People really need more flexibility during the busy season, and extending hours pays off with better customer satisfaction, which leads to loyalty and long-term business.
While you consider extending your business hours, also consider consumer financing options. Consumers today want options when it comes to how they spend their money. Fortunately for them, most retailers are giving them just that, which means if you want to stay competitive it is something you need to look at.
When you offer a financing solution, consumers are more likely to spend more money at your business. In fact, without it, you’re likely to lose consumers because there are a percentage of them who prefer to make low monthly payments over time rather than spending money straight out of their checking account in bulk amounts.
However, when you’re looking for a provider of consumer finance options, don’t seek out traditional – use a non-traditional provider. When you use a non-traditional provider for financing solutions, you are paired with an entity that doesn’t follow the same strict guidelines for approving someone for credit. Instead, you’ll get a partner that offers finance solutions to both prime and near-prime consumers.
The HELPcard is a company that specializes in offering consumer financing to prime and near-prime consumers. Our solutions have proven to benefit our clients who want more flexibility in the way they spend their money. Contact us today and we’ll discuss how HELPcard will benefit your organization.