A new initiative launched by Tech Data makes it easy for retailers and webstores to offer trade-ins and monthly payments on purchases of new equipment online.
The Easy Upgrade scheme enables consumers to acquire the device, pay a monthly fee for it over two years and then have the option of trading it in for a new model. Alternatively, they can continue payments for an additional six months after which they will fully own the device. Three-year options are also available.
Retailers and webstores receive the full cost of the product at the start of the 24 month period. The Tech Data Easy Upgrade service can be used to purchase a variety of devices such as smartphones, notebooks, or PCs. It has been launched after a successful in-store pilot scheme with a well-known retailer.
Tech Data has a fully-developed website and APIs that enable all the functionality to be integrated into webstore sites. Alternatively, or additionally, the service can be offered in-store, with staff taking customers through the options. A swift approval and authorisation process means that decisions are usually given in less than 10 minutes. The process is also fully adherent to UK consumer protection laws.
James Reed, managing director, Endpoint Solutions, UK and Ireland at Tech Data, said: “While most consumers used to take out an inclusive contract for their mobile phones, over the last few years the trend has shifted toward buying handsets outright and taking up SIM-only contracts. That still leaves a lot of consumers who don’t want to shell out a lot of money up front to purchase the phone, but also don’t want to pay a higher contract price if the device is included in their voice and data service.
“Easy Upgrade is the ideal solution for these customers, as it gives them much more freedom and flexibility. It means that they can purchase the device they really want without getting tied into an expensive-looking contract. If they want to trade in the device at any time, that’s an option. Or, after 20 months, they can go back and upgrade to the latest product. Alternatively, they can walk away with the device after the full contract period.”
The scheme can also be extended to include accessories, such as protective covers and cases, additional batteries and charging units and other add-ons, giving retailers the potential to increase the value of every sale.
Tech Data offers a range of financial services that retailers, webstores and B2B resellers can access to give their customers different options when purchasing new equipment. These range from the Easy Upgrade Service and Tech-as-as-Service, the Tech Data Renew trade in programme, to a range of vendor-backed finance and leasing schemes that can be used to fund significant investment by businesses or public sector organisations.
In addition, Tech Data offers extensive credit facilities with a fund of around £1.8 billion available to the UK and Ireland channel.
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