Retail Consumer Financing: A Trend for 2016 and Beyond

Build up More Business With Retail Consumer Financing

retail consumer financingSome of the current trends that retailers are noticing this year have actually been around for quite a while and they probably won’t go away any time soon. For instance, retail consumer financing is something consumers have desired for years. However, as other industries outside of what is considered traditional retailing pick up on financing, retailers must adopt a financing solution so they are not left behind.

One thing we know about engaging customers is that to get them fully on board, you have to create confidence in them about your brand. This requires giving them the tools they need to make that connection. It might be product immersion or making person-to-person contact with them to offer recommendations. It might also mean extending to them a line of credit.

Another trend that is creating some buzz this year is eliminating obstacles that get in the way of consumers taking full advantage of your services. Are you giving your customers and prospective customers the ability to make purchases from anywhere? If not, consider stepping up your technology game and making mobile a more vital component of your business. This will involve building an app or ensuring that your web development is mobile friendly. You can also include an easy retail consumer financing application process that is online and mobile friendly.

Maybe it’s the result of the community-mindedness of the Millennials that are fast becoming an economic force, but cultivating community is increasingly important in 2016. This requires some creativity and some time away from thinking about your brand solely as a profit source. Think about building social hubs where your brand is the key component, yet you’re offering complimentary services instead of pushing products. Can you make your physical space a place where people want to gather around a centralized theme? Doing so actually does turn to profit later.

Regardless of how much you are able to build up a community around you and impress upon a number of people that your brand has value, you will still need to offer options in how they pay you. Retail consumer financing is something that is being offered almost everywhere now, from veterinarians to funeral homes to home remodeling projects. As a retailer, you need to reach out to your clients and potential clients with a means for paying for your goods and/or services that don’t involve handing over cash out-of-pocket.

When you partner with a third party to offer a financing program, make sure it’s one that offers non-traditional services that will be suitable for prime and near-prime consumers. The HELPcard has developed programs for retailers of all types that give their customers options they require. We can custom design a program that fits your needs and the needs of your customers. Contact us today and let’s talk about how to improve your business.

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