Poll: Do you, or would you, offer retail finance?
Posted on in Business News , Cycles News , Outdoor News, Polls & Results
Retail finance cycle sales grew by over 25% in 2011, but this is just the tip of the iceberg.
Research indicates that cycle finance sales could easily be increased between 400% – 500%. The main attraction of finance to the consumer is being able to spread the cost and this has never been more in demand than in the current economy.
Bank loans are costly and not so easy to come by nowadays, unless you are willing to opt for Wonga's 4214% representative APR! So, if you offer finance you need to shout it from the tree tops, not hide it under your counter.
A recent survey revealed:
- 93% of customers were positively influenced by retail finance.
- 71% of consumers surveyed would have postponed their purchase had finance not been ‘offered'.
- 57% of consumers made a purchase purely because finance was available.
So, with retail finance of increasing importance to specialist retailers backed up by the statistic that the average Ride it away cycle finance store sells an extra 74 bikes per year using retail finance we ask, Do you already or are you considering implementing retail finance into your business?
If you already offer retail finance and would like some free support and guidance to help you increase your sales contact us and let us know when we can call at a convenient time.
