A third of UK consumers are said to be disappointed by the lack of flexible finance offerings available, according to a research study by specialist finance platform, Duologi. Duologi questioned 1000 UK residents and found that 34% of people think that UK businesses could be doing more to provide point-of-sale (POS) finance to their customers. The report also showed that almost a fifth of shoppers would want to borrow from as little as £100 but that many brands only offer finance over a certain amount as such limiting their ability to tap into this market.
Duologi credit director, Rob Cottingham, commented, “Currently, POS finance is used most widely in retail but consumer appetite for credit options across a wide range of sectors is evident, and many think that these industries should be doing more to offer POS finance. Given the ongoing growth of e-commerce, the ability for these retailers to provide credit both on and offline could prove crucial in the future.
“Clearly, there is consumer demand for POS credit – so for those brands that do already provide finance options but aren't seeing results, it's vitally important to promote it more heavily. Simple tools such as pop-up banners near till points, posters in the waiting room or a clearly-visible website header can alert potential customers to the benefits of finance solutions, providing a clear reason to purchase from that business in particular.”
Posted: 2 January 2019