Retail Consumer Financing: How to Gain an Audience
What are you doing to keep up with the latest generation of consumers? For a few years now we’ve been talking about the trends that are changing thanks to the wants and needs of Millennials, but there is a new generation causing a stir, a younger group called Gen Z, and they’re already throwing $44 billion into the economy every year. One way retailers are catering to them is through retail consumer financing.
Gen Z is a generation born into the digital age. They are influenced by video ads as well as mobile banner ads. Refuel Agency, a research company, says that their findings include evidence that Gen Z will research a product 29 percent of the time after they’ve seen an advertisement for it, which means if you’re running ads, you better have the online content available for interested consumers.
This is a generation that has embraced digital advertising, which includes ads that appear in social media, mobile banner ads, and online video ads. Is your brand getting out there through mobile-ready sites? If not, it’s time to consider optimizing your site for desktop AND mobile.
Social media continues to be a major force for a variety of generations, all the way up to the Baby Boomers. Facebook’s influence continues to fluctuate, but Instagram is a powerhouse, especially for the younger generations. Meanwhile, Gen Zers say their least favorite piece of technology is the television. Try asking someone 20 years ago if they would prefer to go without their phone or their television and you’d get a much different response than you do today. It cannot be overstated how important mobile is for retailers and their ability to pull in more consumers.
Like the generations before them, Gen Z consumers are always looking for brands to associate with – brands that seem to cater to their needs and identify with them on a personal level. An important aspect of this relationship is offering consumers options when it comes to paying for your products/services.
Increasingly, businesses in all industries are looking to financing options to please customers and potential customers. It’s become so prevalent that businesses that don’t offer financing are being left behind. In fact, retail consumer financing can be the difference between landing a client and watching them pick a competitor who offers it when you don’t.
When you partner with a financier to offer retail consumer financing, you increase your ability to build brand awareness, generate a loyal legion of customers, and increase the amount of web and foot traffic your business receives.
The HELPcard is a company that specializes in retail consumer financing. We have programs that are a good fit for just about any business because we have flexibility built into our solutions. If you’re looking for a customized financing solution that will pull in more customers, contact us today and let’s talk about the possibilities.