RETAILERS
‘CYCLISTS LIKE TO KEEP UP WITH THE LATEST MODELS AND OFTEN GO BACK TO THEIR FAVOURITE INDEPENDENT RETAILER EVERY COUPLE OF YEARS’
during the busy peaks of Covid, without damaging retail price points and brand values,” continued Harrison. “We are confident that V12 is at the forefront for bringing retail finance technology to market quickly and efficiently, with features that improve security, continuity and ease of operation for both the retailer and the customer,” said Eleanor Richards, marketing and communications manager at V12 Retail Finance.
Customer experience In addition, V12’s system stability coupled with their innovative online journey and customer recognition, eases the purchase process for the customer and retailer. V12 recognises the importance of online customer
experience which is why they are the number one provider for retail finance in the cycle sector in the UK. They are trusted by their customers, evidenced by their 4.9/5 Trustpilot score, and they are part of the only bank in Britain to achieve a Customer Service Excellence award, meaning both customers and retailers are in safe hands.
PHOTO BY COLLIN HARDY ON UNSPLASH
So, what does this mean for cycle retailers? “Cyclists like to keep up with the latest models and often go back to their favourite independent retailer every couple of years to purchase their next bike, increasingly so from the experience seen in lockdown and very often on finance,” said Harrison. “Coupled with the already popular V12 finance calculator, not only can you understand your customer’s budget to let them make an informed decision in paying for their perfect bike, but the new application form will guide them more efficiently through their finance application in no time at all.” V12 has also made system integration more widely available. “We have all seen the ever-increasing importance of online retailing and those retailers without an online presence may have missed out on hard to come by sales. V12 integration is market-leading and if you are unsure about the benefits and even the knowhow on how to quickly set up a transactional website then you need to speak to us at ACT or the team of experts at V12,” Harrison concluded. The ACT encourages retailers to take ACT’s Retail Finance Training, an online learning course delivering an informed insight into retail finance that can be completed anywhere, any time. The course, coupled with in person training retailers receive from V12, will educate your staff how to effectively promote retail finance, encouraging customers to maximise their spending through techniques such as financial promotion, Point of Sale (POS) and bundling. This is invaluable for retailers with surveys showing that consumers are more likely to spend more if retail finance is sold correctly, and increasingly, for many customers, having the option to spread the cost is the main reason a purchase is made.
ACT Members can access a
retail finance course from £75, just see:
indieretail.training
14 | January 2023
www.bikebiz.com
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