RETAILERS BEST PRACTICE, BROUGHT TO YOU BY THE
RETAIL FINANCE: THE FUNDAMENTALS
In this month’s advice for cycling retailers, Jonathan Harrison from the Association of Cycle Traders explains how sector expertise and user experience counts when it comes to retail fi nance
A
s the economic outlook darkens, retail finance schemes remain a more preferable route for retailers to
boost sales during recession than the financial hit required by heavy product discounting. “We all know that household budgets
are under increasing pressure, and many consumers who want to purchase will be looking for the opportunity to spread the cost rather than outlay a lump sum payment. On the high street all retailers are competing for consumer spend and the demand for finance options is at record levels as it always is in similar economic conditions.” That’s the message from the Association of Cycle Traders,
the UK’s largest cycle trade association, which has urged retailers to be savvy in their choice of retail finance partner to ensure that they get the best deal for their business as well as their customers.
Best value for your business “It’s easy to be seduced by headline numbers and big financial brand names but there’s more to it than that,”
www.bikebiz.com PHOTO BY NICK PAGE ON UNSPLASH ACT director Jonathan Harrison
explained Jonathan Harrison from the ACT. “Retailers should look for the finance package that represents the best value for their business – which finance partner understands the cycling sector best, which offers optimum acceptance
rates, the most efficient integration and onboarding process and is trusted by their
customers.” The ACT’s 13-year partnership with V12
Retail Finance currently enables over 400 retailers
to take advantage of a market-leading range of finance products, with competitive rates, high levels of service and proven sales results. The company specialises in financing all types of bicycles and can encompass the whole consumer purchase including accessory add-ons purchases. ACT and V12 work in partnership to provide the only cycle industry-specific scheme in the UK. “We remain convinced that retail finance is the best option to help retailers and brands to move the overstocks and commitments resulting from the market buoyancy
January 2023 | 13
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