The jobless rate is down, which means consumers may be ready and willing to part with their cash in 2016. However, there are some trends already emerging that should give you a better idea of how to approach your business strategies this year. Don’t forget to include retail consumer financing options, like a line of credit, for your clients who prefer low monthly payments to lump sum spending.
Getting Into Ecommerce
Have you delved into ecommerce yet? Now is the time. The big box retail organizations have all made their intentions known in this arena and have opened up new channels of revenue for their brands, which has traditionally always been known for its brick and mortar presence. Reaching out to consumers in spaces they prefer, such as mobile, can bring in an entirely new dynamic to your model. You can also integrate information about your lines of credit to the mobile platform.
Improve Your Mobile App
Believe it or not, consumers will access your mobile app while they’re in your store – that’s how much they’ve come to rely on apps. However, if your mobile site is clunky and offers no real value, it can hurt your brand. Do everything you can to improve your app and make it an asset that promotes sales.
Grow Your Social Media Presence
You’ve likely already established your social media pages for your business. This is an ongoing trend that gets more attention with each New Year. And it makes sense – there are millions of users spending hours a day on social media. Don’t be afraid to experiment with your social media strategies. Get out in front of your competition by being innovative and establishing yourself as a thought leader in your industry.
Follow the Amazon Subscription Model
Consumers love a deal. They flock to sales events and eagerly sign up for rewards programs. Ecommerce giant Amazon has given even the smallest retailers incentive to offer subscription programs to boost sales. Offering even the smallest break on price through a subscription program can be all the incentive a consumer needs to sign up and give a boost to the monthly sales tally.
Get Into the Financing Game
Don’t do this on your own – bring in a trusted and experienced third party to assist you in setting up a retail consumer financing program. This type of option is as effective in boosting loyalty to your brand as does the subscription services. Pick a third party that can reach out to the prime and near prime consumer. This will improve the rate at which you pull in new customers and retain current customers for a longer period of time.
The HELPcard is a company that is ready to offer you a retail consumer financing solution that will pull in more customers more often. We offer services to prime and near prime consumers who are looking for the conveniences that a line of credit affords a vast majority of consumers today. Contact us and let’s discuss a program that will work for you.