Consumer financing helps you find forever homes for more pets, enabling you to grow your business and serve more customers than ever before.
The pet retail industry is a competitive one. More Americans than ever are bringing pets into their homes, and retailers across the nation vie for the opportunity to meet pet parents’ needs. And retailers are finding that the best way to bring customers to their sites and through their doors is by offering consumer financing.
Consumer financing allows your customers to make big-ticket purchases without disrupting their savings account or their planned monthly spending. By providing financing options, you enable people to bring home their perfect pet even if they don’t have readily available cash. Below we explain the top five benefits of choosing consumer financing for your pet retail business.
1. Bring in More Customers
As we stated earlier, the pet retail industry is competitive. As a business owner, you know what it takes to edge out over your competition to bring business through your doors.
Consumer financing provides the competitive advantage you need to connect more pets with prospective pet owners. If a customer knows you offer a financing option, they’re going to choose you over a retailer with the same pet options who don’t offer monthly payment plans. Rather than jeopardize their budgets with your competition, they can come to you to bring home a new pet knowing they can make their purchase with set monthly payments for a set period of time.
Attracting customers is the first step in securing your sale. And when customers know they can purchase from you without paying up-front in full, they will consider you their pet merchant of choice. By providing retail installment loans with affordable monthly payments, you can bring more customers through your doors and connect them with their new pet to cherish for years to come. Financing enables you to attract more customers, have more families find a new pet, and grow your business.
2. Boost Sales and Increase Order Value
In addition to attracting new customers, consumer financing also helps increase your average order value (AOV). When customers also need pet supplies or accessories such as a crate and a leash, businesses can include those items in the retail installment contract which increases the AOV. Offering consumer financing is a way to accomplish this in your pet retail business.
Financing is a powerful tool to help close sales. It’s also an effective means to support customers when they want a more expensive puppy. Without financing, many shoppers stick to a capped spending amount. By providing financing solutions at checkout, you empower customers to choose the pets they want without budgets bridling their purchase decisions.
When you partner with a consumer financing firm like United Consumer Financial Services, shoppers learn they can have affordable payment options to bring home the perfect pet for their children, their spouse, and themselves. And because UCFS provides simple payment options, your customers can feel comfortable choosing the pet they want without relying on credit cards or up-front cash-in-hand to cover the cost of their purchase.
Once your customer takes advantage of consumer financing, they’ll likely be a customer for life. Financing can improve customer satisfaction and increase customer retention from the very first purchase. When a customer has a good experience with your business, they’ll happily return to you for their next family pet.
3. Receive Payment Quickly
You know that running your pet retail company requires steady cash flow. Businesses like yours depend on prompt client payment not only for growth but for day-to-day operations as well. When you partner with UCFS for your consumer financing, you’ll see a better flow of cash.
Consumer financing allows customers to take their new pet home the same day, and the business is paid in just a few days. UCFS sends you payment quickly and directly via direct deposit and handles collection and communication with your customers.
Point-of-sale financing allows your clientele to reap the benefits of affordable monthly payments.
4. Make Pet Ownership a Possibility for Your Customers
Everyone deserves the unconditional love that a pet provides. But many times, the lack of on-hand funds creates a barrier to pet ownership. Consumer financing can make bringing home a pet a reality, even for customers with little or no credit.
When you offer consumer financing, you make a way for more customers to enjoy the love and companionship of a pet. At the same time, you open your business to serve a wider breadth of shoppers, expanding your customer base. Financing shows shoppers that you believe everyone deserves the special relationship that you can enjoy only with a pet. Your customers don’t have to wait a day longer to bring home the missing piece of their family. They can welcome a new pet into their home today when you offer consumer financing for your pet retail company.
5. Save Resources When You Work with a Professional Financing Firm
Offering consumer financing for your pet retail business not only benefits your customers, but it promotes your business’s success as well. This is especially true when you choose to work with a proven, professional financing firm with experience in the pet retail industry.
United Consumer Financial Services has spent decades providing effective financing solutions for pet retailers just like you. We know your specific needs and proactively work to ensure your financing works for you and your customers while saving you time and other resources.
UCFS handles payment collection for the life of the loan. The easy-to-use customer portal allows your clientele to review their payment history and auto-payments, making it easy to pay on time every month and reduce their risk for late payments.
The client portal also gives your customers access to our U.S.-based customer service team. UCFS’s friendly, helpful customer support staff will answer all your client’s questions in a timely manner, which shows your customers that they’re valued and supported.
Running your pet retail business takes time, energy, and financial investment. When you partner with UCFS for your consumer financing needs, you free yourself up to invest yourself and your resources into growing your company.
UCFS provides your business with approval status in just minutes. The affordable monthly payment options allow your customers to bring home their dream pet, and you enjoy the benefits that come from working with a respected consumer financing firm. UCFS will help you connect shoppers who want a new pet with their perfect companion – all while helping your business grow.