The term of the hire purchase is often associated with negative connotations. Corresponding scare many traders back about to implement a hire purchase option in their online store. They fear loud IBI Research that this increases their return rate, or the number of insolvent clients. Experts believe, however, above all the reason in a false or inaccurate understanding of the term, in which it often leads to confusion with the installment loan product.
However, this is not known to hire purchase contrary to the recent survey results of the E-commerce Guide team of IBI Research, according to which only 5 percent of traders. Nevertheless, only about one quarter of respondents use a hire purchase option in their online store. General should therefore be trying to improve the image of the hire purchase and says IBI.
Sales by hire purchase option
Negative associated terms should be avoided and the hire purchase with positive concepts and experiences are linked because customers choose to hire purchase is not necessarily due to limited financial resources, advises IBI.
Furthermore, far more industries and also lower Carts for this option are. High-priced segments are no longer the only area of application.
Hire purchase will ultimately many retailers so open up the possibility to generate new sales to attract new customers and increase in the result and customer satisfaction in general with a flexible payment model. The potential of a hire purchase option in e-commerce is therefore not to be underestimated and should be ignored by any dealer advises IBI.
As an aid in dealing with this issue can Experts consider the four factors for success "simplicity and speed", "flexibility and simplicity", "customer handling and transparency" and "labeling" are used, because according IBI wear these significantly to the success of a hire purchase at the product.
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