Feature:Euronics Benefi ts Update THE Power of Flexible Financing
A study from Juniper Research found that by 2028, the Buy Now, Pay Later (BNPL) userbase will increase by 107% to over 670 million users globally, up from 380 million users in 2024. We speak to Rich Knapman, New B2B Acquisition and Development Manager, atCombined Independents (Holdings) Ltd (CIH), the electrical buying group, part of Euronics, Europe’s largest electrical buying group, about the growth of BNPL and why CIH is partnering with two leading fi nance providers.
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ppliances and electrical products play a crucial role in modern life, enhancing our quality of life and helping us stay connected, productive and entertained. However, the cost of these items can sometimes be a signifi cant barrier. High-quality appliances and the latest electrical products oſt en come with heſt y price tags, making them diffi cult to aff ord for some households. That is why we have partnered with two leading fi nance providers, Fair for You and Klarna, to off er our customers more fl exible and accessible ways to pay for their essential electrical items. These partnerships are not just about off ering more payment options, they are about making access to our products more inclusive and helping our local members thrive.
Why Partner with Fair for You? Our decision to partner with Fair for You stems from a shared commitment to responsible lending and customer satisfaction. We recognise that everyone’s fi nancial situation is unique, and we wanted to off er a range of options to suit diff erent needs. The Fair for You and Euronics partnership
is designed to make essential household appliances more accessible to families in need by off ering aff ordable and fl exible fi nancing options. Through this collaboration, customers can purchase high-quality, energy-effi cient appliances from our members with manageable repayment plans provided by Fair for You. These loans will be invaluable to the millions of UK households who have less than £100 in savings and who may also struggle to access mainstream credit - for them, a broken fridge or washing machine may be near impossible to
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replace quickly and safely. They also help drive sales for our members while reinforcing their commitment to social responsibility.
Why Partner with Klarna? The Klarna and CIH partnership enhances the customer shopping experience by off ering fl exible and convenient payment options both online and in-store. Through Klarna’s “Pay in 3” and “Pay in 30 Days” options, customers can spread the cost of their purchases interest-free, making essential appliances more aff ordable. This collaboration helps our members
increase sales and attract a broader customer base while ensuring a seamless, hassle-free checkout process. Klarna users tend to be younger than the demographic usually associated with Euronics. By integrating Klarna’s innovative payment solutions, we strengthen our members as customer-centric retailers, making quality appliances more accessible to a wider spectrum of UK shoppers.
‘‘ Our decision to partner with
Fair for You stems from a shared commitment to responsible lending and customer satisfaction.
who might have previously been hesitant to make a purchase due to budget constraints. This expands the potential customer base for all our members. Improved Customer Experience – off ering a choice of fi nancing options empowers customers to choose the payment plan ‘that best suits’ their individual circumstances. This enhances the overall shopping experience and encourages customer loyalty. Competitive Advantage – in a competitive retail landscape, off ering fl exible fi nancing options can be a key diff erentiator. It allows our members to stand out from competitors and attract customers seeking greater aff ordability, with payment options spread over a period of time. Support for Local Businesses – by driving
How Do These Partnerships Benefi t Our Members? These partnerships are a positive for both our customers and our members. Increased Sales – by off ering fl exible payment
options, we can make higher-value items more accessible to a wider range of customers. This can lead to increased sales and revenue for our members. Attract New Customers – the availability of
diverse fi nancing options can attract customers PEOPLE MAKE THE DIFFERENCE
more sales to local members, these partnerships contribute to the success of local businesses and the communities they serve. Fair for You and Klarna are just two of several,
exciting new fi nance solutions we are looking to implement for our customers and members. During the fi rst half of 2025, we are looking to bring further partnerships onboard, off ering customers further payment fl exibility whilst maximising revenue for our members.
• For details on how to become a part of Euronics in the UK email: membership@
cihgroup.com.
Spring 2025
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