Retail finance key to boosting sales of accessories and upgrades
Posted on in Cycles News
Most specialist cycle retailers sell only a handful of high-ticket upgrades each year; Ride it away can help your store to buck this trend.
Most cyclists strive each year to improve both their gear and their performance. That usually means upgrading existing equipment or buying new.
Desirable upgrade items like carbon fibre race wheels, top-end suspension forks, dropper seatposts, GPS units, power meters, electronic groupsets etc. often feature great margins and a quicker turnaround compared to selling a full bike. They have the additional advantage of being a rare sight on shop floors and shops that hold such items in stock are much more likely to appeal to volumes of enthusiast-level customers.
Ride it away can be used to spread the cost of accessories and upgrades as well as bikes. Your customer might find it hard to justify the cost of their dream upgrades in one lump sum, but high-ticket items suddenly seem much more accessible when the cost can be spread over a period of time that suits them.
Statistics suggest that customers are significantly more likely to purchase goods on finance if the availability of retail finance is openly advertised and discussed. Make sure your sales staff are well versed in Ride it away; the process, the cost and the benefits. If staff are knowledgeable and comfortable with the scheme, they are much more likely to have success selling it (and using it to upsell!)
Ride it away point of sale is now available and is a great way to make sure that every customer visiting your store knows that they have the option to spread the cost. For a limited time, banners and window stickers (limited to 2 of each per customer) can be ordered free of charge - you just pay postage. Swing tags can be hung from high-ticket upgrade items in store, detailing exactly how much they will cost and over how long.
Click here to see the Retail Finance POS Brochure, and read our guidelines on how best to display each of the products here. Order online now via your My ActSmart account.
To download web banners for display on your website, click here.
Not part of the Ride it away scheme?
The
Ride it away retail finance scheme is a great sales tool for your
business, helping customers to get the bike and accessories they want by
spreading the cost with a range of APR's and loan repayment lengths
available.
Rideitaway.co.uk launched recently to help customers find their local Ride it away retailer and work out their budget to buy a bike on finance.
The scheme has grown significantly in recent years and now boasts a retail network of 650 stores nationwide and financed bike sales of over £60m p.a. The scheme is expected to get ever bigger, having already seen a 118% growth so far this year!
Retailers using Ride it away benefit from;
- Free V12 Set-Up Worth £495
- No minimum finance turnover requirement
- Payment issued by V12 same day and in your bank within 4 days
- National promotion via the Ride it away consumer website
- Ride it away web banners to download via My Downloads to use online