Snowbird Finance is delighted to announce that Tim Baker has joined the team as National Sales Manager to grow and increase Snowbird Finance's patient finance offering under the brand of...
'I have known Simon Freeman and have been using Snowbird Finance for many years. They have been key to the fulfilment of our business plans, particularly during our relocation and expansion in 2012 and 2013'
Helen Harrison, Granta Dental
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Retail finance – or Consumer finance – has always been an important service offering for businesses.
Alongside the increasing popularity of 'Buy Now, Pay Later' solutions, more and more retailers and medical treatment practices are experiencing the benefits of offering retail finance to their customers and patients respectively, as it not only improves the accessibility of their products and services, but also encourages more purchases at point-of-sale without having to adjust prices.
But what exactly is retail finance and what are its benefits?
What is retail finance?
Consumers are now becoming more focused on their financial wellbeing, in part due to rising interest rates, mortgage payments, fuel and food costs, as well as general inflation. These rising costs will inevitably lead to customers thinking more carefully about what their money is spent on.
Retail Finance is a simple and affordable way for consumers to spread the cost of products and services, whilst ensuring your business experiences an uplift in revenue and profit.
Why offer retail finance?
When customers look to make their purchases, cost and affordability can play an important part in their decision making.
Offering retail finance at point-of-sale gives customers and patients the flexibility to spread the cost of products and services through low monthly instalments, making life's essentials affordable and giving them the freedom to purchase the product or treatment they want or need, without delay.
- 55% of customers bought because of the availability of finance.*
- 43% of customers spend more when finance is available.*
- 65% The increase in sales that retailers achieved by offering retail finance.**
* Source: Hitachi Capital (UK)
** Source: payitmonthly.uk
Additionally, it has proven to be a successful way of bringing more people through your door or to your website, helping your business achieve an uplift in revenue and profit, while building brand loyalty and retention for continued growth.
Benefits of retail finance for your business
- Builds brand and customer loyalty
- Drives footfall and traffic
- Accelerates purchasing decisions
- Increases average order value
- Quick and easy arrangement
- Immediate payment for products and services which improves cash flow.
Benefits of retail finance for your customer or patient
- 0% interest
- Access to higher value products or treatment services which may otherwise be unaffordable
- Flexibility to spread costs
- No upfront deposit required
- Alternative method of payment
- No credit control costs, credit card fees, bad debt or waiting for your money.
Can you really afford not to provide your customers with a point-of-sale finance solution?
Why Snowbird Finance?
Not every one of your customers can afford to make large purchases in one go. We help you to help them.
At Snowbird Finance, we want to make sure offering your customers' retail finance is as easy as possible. That's why we promise:
- a simplified customer application process
- a quick decision-making process
- customers can apply in in-store or from home
- management tools and reporting
- personalised sales and marketing support.
Contact us today to see how we can help you offer a choice of finance options to help improve your customer experience and in turn increase sales to grow your business.
For more information on treatment finance, please visit our dedicated website: www.treatmentfinance.co.uk