Flexible finance to increase accepts and drive revenue
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We know retailers are battling a perfect storm. Not only are you suffering from margin squeeze as a consequence of rising supply chain and operational costs, but customers now have less disposable income which will likely impact discretionary spend.
It's therefore vital to convert every potential customer.
There's no simple solution to inflation, but for businesses still reeling from the shock of the pandemic, and Brexit, new pressures are emerging just when we needed stability.
Our new report examines the key issues behind the cost-of-living crisis, with discussion of how the situation is unfolding for businesses and consumers respectively, and insight into the solutions Novuna Consumer Finance offers.
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Tailor-made for you
When it comes to finance, we believe one size definitely does not fit all. Your customers are unique and that's why our finance options are too.
Gives declined customers the option to increase their deposit amount, reduce the overall loan amount or increase their term to spread the cost in order to make the application affordable. This will reduce overall declines, meaning more accepts for you and more revenue.
Allows an accepted customer to reduce the loan term by increasing their monthly instalments, based on affordability checks. This will ultimately save them money as they will accrue less interest, as well as clearing their debt more quickly. As a retailer, you will pay less in subsidies.
If a customer applies and is accepted for the requested amount, that's the end of the story, right? Not necessarily. If they are eligible for more, we will offer that option. That allows your team to upsell or cross sell with ease and increases average transaction values.
Costs can fluctuate, especially for bigger projects. That's why we allow eligible customers to increase or decrease their loan amount, even after the application is complete and the agreement has been signed. Giving you and your customers ultimate flexibility.