Consumer finance: what does it consist of?

If you are the owner of a reputed and recognized business, or you belong to a department store business, you know that the goal is always to keep the business profitable.

Opening a reference store or franchise can be relatively straightforward, and we even tend to think of it as a done deal.

But like any other business, we must work on it to position it as a benchmark in the sector. This background work takes time and effort, and is not easy to achieve. Therefore, once achieved, we must do everything possible to maintain that status and continue to be a benchmark for both customers and suppliers.

• We recommend you read: "Gifts for Mother's Day: 10 cheap and original ideas"

How to retain customers?

One of the most appropriate ways to maintain the sales model and achieve customer loyalty is to offer them products that make it easier for them to buy, such as consumer financing.

At the point where your business has sufficient solvency as a brand, the key is to help the people who come to it to buy with all the facilities that can be offered. This promotes a double effect: we get our customers to prefer us even more to other businesses and also, they will speak well to their acquaintances, generating a rebound effect.

It happens to all of us that when choosing to buy in one business or another, the payment facilities and the financing that can be offered to us is of total and complete guarantee. And it is that when we make an important purchase, having the security of being able to make payments with peace of mind with products provided by the trade, is an advantage.

Credit card

One of the most common and useful ways to build loyalty in our client portfolio is to offer a credit card. What better way than to offer our own payment card to reinforce our brand and customer engagement?

All purchases you make with us can be paid with the card associated with our business. Not only is it an excellent way to facilitate payment, it is also to reinforce branding and also be able to offer promotions to our clients tailored to their interests and needs.

They are free cards, which offer total security, universal to be used in establishments that accept VISA and flexible to be able to choose the payment method that best suits each client. In addition, the payment option through the APP makes it even more convenient and agile.

Consumer loans

In addition to credit cards we can also have consumer loans. Widely used to finance the purchase of appliances, furniture, etc., they are another way to facilitate the purchase in your business in a simple and safe way.

This type of loan, aimed at making a specific purchase, usually offers multiple forms of payment to facilitate the disbursement to the client. They can usually choose between consumer loans:

• With a fixed monthly fee, eligible between several ratios and clearly allows the payment of fees to be planned without any problem.

• Fee adapted to the expenditure made, which allows longer-term financing.

• Free consumer loans, for specific purchases within a range of expenses and that allows you to choose the installment between a minimum and a maximum.

• For preferred clients, we can offer preferential interests for the client and with very attractive fees for the buyer. It is a more exquisite way to retain special customers.

These types of loans are valid for both traditional commerce and e-commerce. They are adaptable and greatly streamline the buying process, making cash solvency at the time of purchase not a big issue.

Credit accounts

The last of the most common products to favor payment in large stores are credit accounts.

A very suitable means of financing to retain your customers, since They are a product that is available to all people and that offers immediate solvency for the expenses they need, always within a certain limit. Like consumer loans, they are valid for both point-of-sale and e-commerce purchases.

Having seen this, you have many options to be able to offer your clients and be able to favor their purchases and satisfy their financial needs. Seek to have useful products that highlight your brand and that give full guarantees and security. In this way, you will get your customers to stay with you with complete peace of mind, and they will become your best brand ambassadors.