INDUSTRY UPDATE
Leading consumer finance specialists CCS say many KBB retailers are missing out by not offering finance By Peter Nicholson, Executive Director at Consumer Credit Solutions
F
or customers, buying big-ticket items on finance is nothing new and most
households look to spread the cost of their new car or conservatory. Consumer finance, for different reasons, appeals to all demographics, even Aston Martins and Rolex watches can be purchased on finance. Consumers of all persuasions and spending
power use finance as a convenient way to pay. Restricting your payment methods means you’re restricting the customers who buy from you. When offered correctly, finance generates more enquiries, leads to better sales conversions, fewer cancellations, and bigger order values – and that means a higher turnover and increased profitability for your business. If you don’t offer finance then you’re missing
out on a great sales and marketing message that could help grow market share by securing customers who would otherwise go elsewhere. In a survey, by leading lender Hitachi Capital, 83% of consumers stated that offering finance heavily influenced their decision to make a purchase.
Once customers know that finance is
available to them, they are far more likely bring buying decisions forward and increase their ‘spend’. Finance allows them the flexibility to leave their money in the ‘bank’ or to fund multiple home improvement projects. Savvy customers also know buying on finance provides them with extra security under the Consumer Credit Act 1974. Desirable finance options that work well for
KBB retailers include interest free, 12 months ‘buy now pay later’, or low interest rates, such as 4.9% or 5.9%. Many customers would prefer the bespoke
service of an independent KBB retailer, but will go elsewhere if finance is not offered – these are customers you’re probably not even aware you’re losing out on, because they never stepped into your showroom.
Trade Mouldings invests £10m in new Manchester showroom and distribution centre
C
ookstown-headquartered Trade Mouldings Distribution Ltd, officially
opened its £10million, 76,000ft sq, state of the art showroom and distribution centre in Rochdale, Greater Manchester, last Thursday. Following a stellar year of sales, the family run
business has invested significantly across the group. Further recent investments include a new 25,000ft sq showroom and distribution centre at its Cookstown base and a 30,000ft sq showroom and distribution centre in Dublin, to service NI and ROI markets.
Trade Mouldings specialises in kitchen,
bedroom and bathroom unit doors and accessories and the new showrooms will carry a diverse range of styles produced inhouse, as well as a variety of gloss and matt painted ranges from leading Italian suppliers, including Slab and J-Pull. Damien Connolly, Sales Director at Trade
Mouldings said: “We are already reaping the rewards of being able to service retailers across the UK and Ireland and the addition of our Rochdale showroom and distribution centre will help us meet demand. “Our extended warehouse facilities allow us to
keep sufficient stock of all our existing ranges and carry more product lines. We are delighted to be launching a series of new product ranges at the Kitchen, Bedroom and Bathroom Exhibition at the National Exhibition Centre (NEC) Birmingham in March 2020.” The Mayor of Rochdale, Councillor Billy Sheerin added: “I am delighted to have been invited to the official opening of this exciting new development in our town. “As Mayor it is important to provide civic
support to Trade Mouldings, who will play a vital role in our economic future. I wish the company and the new showroom huge success in the future.”
Trade Mouldings employs over 150 staff and continues to invest in its high-tech production facilities in Cookstown, where thousands of doors are produced on a daily basis across vinyl, laser edged, painted timber and wrapped mouldings ranges.
01706 753600
www.trademouldings.com
BKU FEBRUARY 2020 71
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