Retail finance case studies
Hear from retailers just like you to find out what it’s like to work with Novuna. Our retail partners share why they first decided to start offering finance and the difference it’s made to their business so far. Let’s meet them…
Making the highest quality products affordable for London Door Company
For more than 40 years, London Door Company has been a leading supplier of high-end doors, building its reputation on exceptional craftsmanship and attentive service. Their focus has always been on delivering products of the highest quality while ensuring their customers feel fully supported throughout the process.
That same dedication to doing what’s best for their customers inspired the team to explore a new opportunity: introducing an affordable, flexible finance solution. When searching for a credit partner, London Door Company wanted more than a provider of financial products. They were looking for an organisation that shared their values, could offer payment options tailored to individual circumstances, and was genuinely committed to supporting the long-term success of the business.
And that’s where we come in…
We are one of the UK’s leading point of sale finance providers, offering a range of products from Interest Free to Buy Now Pay Later. Our finance options allow customers to spread the cost of their purchase affordably and on terms that suit them. We offer a full tailored decisions suite, which ensures each customer is matched with the best deal for them. Whether that’s offering ways to make the terms more affordable rather than declining their application. Or, on the other end of the spectrum, offering those with high affordability the chance to reduce the duration of the loan, potentially saving them money on interest payments and clearing the balance sooner. Not only that, but this option - which is unique in the UK consumer finance market - can save the retailer money too on subsidy costs. It’s a win-win.
As always, the onboarding process for London Door Company was quick and easy, taking just 2 weeks to have the solution in place.
The results
The partnership has been a great success so far, with the finance proposition helping the business grow in a challenging market. Take up increased three times within a year of set up, showing that finance is not only a nice to have option, but a strategic sales growth enabler. Not only that, but Average Transaction Value was 7% higher for finance-funded purchases at the end of last financial year. Allowing customers to buy additional products or opt for a more premium version without worrying about the additional cost is priceless, and directly impacts the company’s bottom line. A customer recently told us: “My decision to buy was made easier by the availability of the 9 months deferred interest option, allowing me to progress the building renovation works on the rest of my home."
“We couldn’t have asked for a better onboarding experience. It was quick, easy and supportive. I have years of experience with finance providers, but the service Novuna provide is above and beyond. The tailored packs they provide showcasing market trends and finance performance really help us to implement credit strategies that are right for the business and our customers.”
Mark Grenier
Managing Director
London Door Company
Making art more accessible with Own Art
We've been the finance provider for the Own Art initiative for more than seventeen years. It's an honour to join them in celebrating their 20th anniversary and Own Art becoming a UK-wide initiative in 2024.
Own Art offers their network of over 300 galleries the opportunity to offer interest free finance to customers, helping to bring the joy of owning art to more people whilst also boosting sales for the gallery and its artists.
Discover how our art gallery finance supports the creative industry.
"The benefit for customers is that through Own Art they might be able to purchase a piece of art that they’ve had their eye on in the gallery that they might have thought they couldn’t afford. It’s now within their reach, and they can just spread the cost really easily."
Siobhan Garrigan, Senior Marketing and Communications Manager at Creative United
Partnering with Stiltz to offer finance in the right way
We work with domestic elevator company, Stiltz, to offer finance to their customers, helping to make their products more accessible and more affordable for more people.
When Stiltz were first looking for a retail finance provider, it was crucial for them to partner with a company with similar brand values who would put their customers first. Enter: Novuna.
Discover how we made the onboarding process straightforward and enjoyable while also pioneering a new telephone only process to add an extra layer of protection for customers.
"If you need a company who you can depend on, a company who are easy to work with, a company who are going to hold you to account to make sure you do things the right way, then Novuna are the right people for you."
Mike Lord, CEO of Stiltz Homelifts
Securing more customers and higher average transaction values for Tredz
Tredz, one of the largest cycling retailers in the UK, is all about delivering a great experience to customers. Offering finance can give customers more financial flexibility. Knowing they can spread the cost allows them to buy the bike they actually want rather than the bike that fits the budget they originally had in mind. This not only supports customers in buying a bike that best suits their needs, but also improves average transaction value.
"I had a certain price in mind for the bike, but the financing options available really opened it up and allowed me to see what I could afford over a longer period of time. The Novuna system made it easy to make the purchase."
Tredz Customer
Providing interest free finance to over half of Wyecliffe Galleries’ clients
Wyecliffe Galleries talks to us about the difference finance has made not only to sales but also to the overall customer experience. Gallery finance gives customers who may not otherwise be in a position to buy artwork the chance to spread the cost, making their dream piece much more attainable and affordable.
"It’s lovely to see customers fall in love with a painting. Interest free credit makes it affordable to actually obtain and begin that collection. We’ve found since offering interest free credit, we’re actually opening up the ability to collect art to all different sorts of people, which is amazing."
Ben Fry, Director of Wyecliffe Galleries
Risk-free finance to help Leeds Golf Centre retain existing customers and attract new ones
Our Membership & Fee finance solution allows Leeds Golf Centre members to pay for their annual membership over monthly repayments, making the cost more manageable.
Leeds Golf Centre tell us how offering this option has helped them to grow their membership while retaining existing golfers. With zero risk to worry about, it’s no wonder the team describe our finance solution as a ‘no brainer’.
"The main thing about the product we have with Novuna is that it’s a no recourse model. So that means that if a member was to default on any payment, Novuna don’t come back to the golf club to recoup any of those losses."
Andy Herridge, Fore Finance Partner
Join our network of over 3,000 UK retailers
To work with us, you will need a minimum of:
- £2m in annual sales turnover OR £50,000 in finance in the last year
- 2 years trading history
- Net worth of £25,000 (£100,000 for Home Improvements sector)
You will also need:
- To be offering products or services for consumers, NOT for businesses
- To be trading profitably
Please note, we do NOT currently work with the following industries: renewable energy (including solar), dentistry, invasive healthcare, clothing, personal development or training solutions.
If you meet this criteria, we'd love to hear from you. Please complete the form and one of the team will be in touch within three working days (usually the same day).
If you are an existing retailer with a general enquiry or a customer looking to speak to someone about your retail finance or personal loan agreement, click here for contact details and opening hours.