According to a study conducted by Synchrony Financial, offering financing options to consumers can have a significant impact on their purchasing decisions. The study found that 44% of credit-challenged consumers are more likely to shop at a retailer that offers financing compared to one that does not.
The study also found that consumers who are offered financing options are more likely to make larger purchases and spend more money overall. Additionally, retailers that offer financing are more likely to attract new customers and increase repeat business.
Overall, offering financing options can help retailers attract a wider range of consumers and boost sales. If you are a retailer looking to increase sales and attract new customers, it may be worth considering offering financing options to your customers.
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