The Holiday Rush is Coming Early: Are Your Prepared With Retail Consumer Financing Options?
Business Wire, a Berkshire Hathaway company, recently reported that nearly a third of shoppers in the U.S. will have their holiday shopping completed before November even arrives. Are you prepared? If you have retail consumer financing on your side, you could outdo the competition.
The Business Wire survey found that 27 percent of respondents said they would have their shopping completed by the end of October, which is eight percentage points higher than what was reported last year.
So, what’s pushing this early shopping trend? According to Business Wire, competitive pricing is the biggest factor. Also, some shopping events have “trained consumers to shop earlier,” with around half reporting they’ll have all their holiday shopping completed by Thanksgiving.
Early digital sales will likely be the first marketing push to hit consumers, likely in October. Online discounting will also entice many consumers to jump on their computers and snatch up good deals as they come through. However, Black Friday is still expected to be a big deal with around 52 percent saying they will take part in the annual shopping crush. Cyber Monday is also expected to pull in a good percentage of retailers.
Here are some more trends researchers found:
- Mobile devices will be used more in purchasing as SMS offers and app-specific sales and alerts impact the millions of smartphone users.
- Product and service bundles will be more prominent in an effort to make straight price comparisons across retailers more difficult.
- In-store traffic, despite the prominence of online shopping, will be a focus for the brick and mortar retailers who want to offer differentiation.
- Look for retailers to offer discounts throughout the duration of the season as they target shoppers who do their research.
If you’re a small business looking to get an advantage this holiday season, consider bringing in a third party to offer retail consumer financing to your customers and prospective customers. It’s something that most consumers are looking for today.
The best financiers will offer financing to prime and near prime consumers. This means all of your customers, not just the ones with perfect credit, will have a better chance of getting the financing they need to do business with you. Experience shows that businesses that offer financing see more loyalty, more return customers, and more profits.
The HELPcard specializes in offering retail consumer financing to retailers just like you. Our solutions are custom built to fit every individual client, so contact us today and let’s discuss how we can be a benefit to you and to your clients.