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DivideBuy’s new eBook, “How to attract customers with interest free credit: A retailer’s guide to offering credit with confidence,” provides resources about interest free payment methods.
These include the benefits for retailers and consumers, what merchants can expect during implementation of a solution, and data from its retailer partnerships. For example, when following the company’s best practice guidelines, merchants have seen a 43% increase in big ticket item sales and a 34% increase in average basket value.
Jo Balsamo, Chief Marketing Officer for DivideBuy, explains: “Ecommerce sales have soared since the onset of the pandemic, and so has the demand for new and alternative methods of payment, such as interest free credit. This research and insight comes at a pivotal time in the retailer landscape, with much of this information, including data taken from our recent consumer pulse survey, demonstrating that there is a bounty of opportunities but not all retailers know how to harness them.
“The past 12 months have completely transformed the retail landscape – for merchants large and small. Now, online retailers are looking to continue the success they’ve experienced by improving customer loyalty and increasing conversion rates.
“Ultimately, by promoting different payment methods on their website and at their checkout, retailers can provide consumers with the choice they desire and make the difference between a customer committing to a sale or abandoning their basket. As retailers tend to see a 70% increase in conversion rates overall when implementing an interest free credit solution, it’s vital that retailers understand the benefits it can provide.”
For more details of the benefits of interest free credit, retailers can download the guide here.
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