Category: Point of Sale Financing

It felt like Christmas just the other day, but Easter is already lurking around the corner. Easter is a major holiday with a major track record of sales in the eCommerce space. Ecommerce sales are expected to increase by 19% during the Easter period by 2022! 

If you haven’t already thought of your Easter sale strategy, here are some ideas to get more eCommerce sales this year.

Buy Now Pay Later (BNPL)

Before we dive into fun marketing strategies, it is important to have as many payment options available to your consumers, which includes offering Buy Now Pay Later (BNPL) or also known as Point Of Sale consumer financing. This will enable your customers to spoil their friends and family this Easter without maxing out their credit cards or burying themselves under a mountain of debt. The more flexible financing options you offer, the more likely you are to increase sales and Average Order Values.

Engaging Initiatives

A great way to get your shoppers to engage with your brand is to create exciting initiatives like a digital egg hunt. You could hide eggs on different pages of your site and encourage shoppers to find them all for a prize. The prize could be an add-on to an order such as a free gift or free delivery. By doing this, you are encouraging shoppers to browse your store at the same time. They may be hunting for the eggs but may also stumble across a product if yours they really want at the same time. 

Create Urgency

Daily sales are a great way to encourage shoppers to purchase on your website. You could offer a chocolate bundle for 20% off for one day only, or you could also offer free delivery for a certain period of time. You can experiment with different sale items and discounts during the build-up to Easter to see which strategy works best for your audience. 

Create Specials For The Occasion 

Holidays are the perfect excuse to create deals and specials for specific items in your shop. It is also a great time to push back stock from previous seasons by reducing their prices or offering them as free gifts after customers have spent a certain amount with your store.

It is also important to think about what your audience will be doing over this holiday period. Will they be staying at home with their family? Do they have children who will participate in Easter egg hunts? Is your audience the type to spend this time away on vacation? Once you have figured out the demographic and behavior of your customers you are able to create personalized specials on the products they will be more likely to purchase over this period. 

Be Prepared

In order to be successful over the holiday period, it is important to be prepared for it. This means optimizing your website and ensuring all bugs and broken links have been addressed. Add banners and images relative to the holiday to get customers in the Easter spirit. Making sure you have enough inventory is absolutely crucial. You don’t want to create disappointment especially if customers are lining up to get their hands on your goods. Being prepared and stocking up on inventory will go a long way in ensuring your Easter is a successful one for your eCommerce business! 

 

Everyone is different and when it comes to shopping experiences, everyone is looking for a personalized shopping experience that caters to their wants and needs. In order to fuel business growth, it is important to know who these customers are and how to engage with them in a way that encourages them to support your brand. With the massive shift in consumer behavior, it may seem like it is more difficult than it’s worth, but once you have connected with these categories of shoppers, they will turn into loyal repeat customers. 

The Active Shoppers

These are the shoppers that have a steady enough income to buy the things they want. They have a live-in-the-moment attitude and don’t mind spending their earnings on products they have their heart set on. While these shoppers understand the current financial climate, they are still more focused on keeping up with trends, spending most of their time browsing social media for product inspiration. This group spends a lot of their online time using their mobile devices and is more likely to shop on purchase through mobile apps.

How To Attract This Type Of Shopper:

• Since this group spends a lot of time browsing social media, your content should be engaging, interesting, and valuable meaning that your posts should offer your followers value. 
• Invest in optimizing your website and mobile apps. These types of shoppers are all about the online user experience and giving them one that meets their expectations will go a long way in gaining you a loyal customer. Work on load speeds, use attractive graphics, and ensure all your payment gateways and point of sale financing or Buy Now Pay Later (BNPL) options are easy to use and safe. 

The Trendsetters

These customers don’t earn as much as the active shopper, which means they are always on the lookout for the best discounts and deals. Trendsetters are always up to date with the latest pop culture and fashion trends and find most of their product advice and inspiration from social media. 

How To Attract This Type Of Shopper:

• Forget about generic deals and discounts. These shoppers are looking for personalized deals that cater to their wants and needs. Follow your analytics closely to see what kinds of items these shoppers are into and create a deal they can’t resist without affecting your bottom line. This could include buy-one-get-one-free deals for beauty products for specific brand names. 
• Offer Buy Now Pay Later (BNPL) instant financing options. This will enable this group of shoppers to get the goods they want without having to pay the total amount upfront. Point Of Sale from ChargeAfter also allows your shoppers to get the best financing deals based on their unique financial situations thanks to our waterfall financing solutions. 

The Sustainable Shopper

These shoppers are more focused on values instead of the latest fashion or product trends. They resonate with brands with social responsibilities and an eco-conscious outlook when it comes to materials, packaging, and formulas. These shoppers prefer longevity over most things trending on social media. 

How To Attract This Type Of Shopper:

• Use your website to educate and give back. This can be done by setting up initiatives that give back to a cause when shoppers purchase your goods. 
• Invest in sustainable materials and packaging. Ensure your product and packaging can be recycled. 
• Be clear about your values and what your company stands for. Create content that is engaging and also aids in educating for a better cause. 

The Family-Centric Shopper

This shopper puts family first when it comes to budget and time. Their attention is solely on their family and household. While they are up to date with current affairs, they do not spend as much time online. This type of shopper may also abandon carts more frequently either because their online time has been interrupted or that the basket may have totaled more than what they budgeted for. 

How To Attract This Type Of Shopper:

• Time is valuable to this shopper and is not always a luxury they have. Ensure that you offer a quick and enjoyable omnichannel experience in order for these shoppers to get the goods they want in what little time they have. 
• This shopper is more open to exploring new ideas that are easy to recreate, which is an opportunity you need to jump on. Create inspirational mailers with personalized discounts that help this shopper find the best fit for their needs. This content can include anything from outfit inspirations to family health and wellness pantry ideas. 

It is estimated that around 70 million Americans suffer from sleep disorders. Being chronically deprived of sleep is caused by numerous factors including poor nutrition, demanding lifestyles, increased stress, and back pain to name a few. While there are many things to address when it comes to sleep disorders, one thing that has helped numerous people, especially those who have chronic back and muscle pain, is investing in a high-quality mattress. Unfortunately, purchasing a brand new mattress is not a luxury most can afford. It is a large expense that can certainly set anyone back in terms of their monthly budget and putting the cost on a credit card is not always feasible either. Depleting your entire limit may prove to not be the wisest choice as situations out of our control do arise and having the financial back up from a credit card can help consumers get out of those difficult situations. 

However, Idle Sleep is now able to address these issues by making high-quality mattresses more accessible thanks to ChargeAfter’s tailor-made Point Of Sale Consumer Finance solutions. 

Who is Idle Sleep? 

Idle Sleep is a Top 10 direct-to-consumer mattress retailer. An Idle Group, and Idle Group Asia brand, was founded by mattress and bedding industry veteran Craig Schmeizer whose vision is to deliver affordable and high-quality mattresses, sleep, and furnishing solutions globally.

What Was The Challenge?

As a pioneer and innovator in mattress and sleep solutions, Idle Sleep’s goal is to provide every consumer with an equal opportunity to enjoy quality sleep. As an eCommerce brand, Idle Sleep had to place its digital and payment experiences at its core in order to provide an unparalleled online shopping experience. With a reported 63% of Millennials and GenZ-er’s not owning credit cards, delivering a full payment and the sub-par experience related to traditional credit was becoming increasingly challenging as more consumers were being declined for financing by alternative POS partners and driving up both website and cart abandonment rates.

The main challenge faced by the Idle Sleep team was to replace the increasing number of credit declines by offering more approvals while also maintaining the brand’s unique user experience and checkout flow on their WooCommerce based site.

ChargeAfter’s Solution

Following extensive research into various Point Of Sale finance partners, Idle Sleep chose to partner with ChargeAfter, allowing them to offer complete tailor-made consumer financing solutions from multiple lenders during the shopping session and at checkout. All of which was done by using a single application. After effortlessly integrating ChargeAfter’s waterfall-based consumer financing platform into Idle Sleep’s WooCommerce site, ChargeAfter replaced the previous financing partner with a diverse network of leading prime, near-prime, and subprime lenders that are able to deliver equal and attainable financing offers for every consumer across the FICO band, which ultimately leads to more approved applications.

The Results

Using ChargeAfter’s network of lenders as well as the seamless user checkout experience, the results showed a 700% increase in financed transactions as well as a 668% increase in financed volumes over a period of 60 days! To break it down across our unique waterfall of lenders, there was an increase of 51.7% from prime lenders, a 35.8% increase from near-prime lenders, and a 12.5% increase from sub-prime lenders. 

Based on the figures above, it is easy to see why ChargeAfter is the preferred partner for your Point Of Sale Financing solutions on your website and in your store!

E-commerce financing has transformed how customers approach high-end purchases, particularly in fashion. While some companies thrived during the pandemic, many luxury fashion and skincare brands saw declining sales. One major factor is the gap between price and flexible payment options, which remains challenging for these brands.

Fashion is a fast-paced industry that continually evolves to meet consumer demands. Younger generations, the most eager to stay on trend, often find luxury fashion unattainable due to the high prices. Additionally, they refrain from accumulating debt through traditional credit and in-store cards.

How price flexibility helps customer acquisition

Offering financial flexibility through buy now, pay later (BNPL) solutions bridges the gap between price and accessibility. With rising job losses and student debt, younger consumers—who frequently update their wardrobes—seek flexible solutions to manage their spending. Brands like Nike and Urban Outfitters have embraced BNPL white-label solutions, allowing customers to purchase without upfront costs.

This shift helps fashion retailers expand their customer base, increasing brand loyalty without lowering prices. Instead, brands can provide payment flexibility through POS financing platforms to attract more customers.

How price impacts cart abandonment in fashion

Cart abandonment is a significant issue in online fashion, and price is often why customers abandon their carts. Introducing embedded lending networks and in-store financing options has provided an effective solution. By spreading the cost over several months through POS lending, customers are more likely to follow through with purchases.

The global online fashion industry is expected to generate $7 billion in online sales by 2022. To stay competitive, fashion retailers must reduce cart abandonment rates, which can be achieved by incorporating embedded finance platforms that offer flexible payment solutions.

Increasing sales without lowering price through BNPL

Luxury fashion brands can grow sales without lowering prices by offering BNPL and white-label POS systems. By integrating embedded lending platforms into their e-commerce stores, brands allow customers to finance their purchases over time. This helps customers manage large purchases and ensures that brands maintain their product value.

Statistics have shown that introducing BNPL white-label solutions has led to a significant reduction in cart abandonment and an increase in average order value (AOV). Fashion brands that have adopted these omnichannel financing solutions see lower customer acquisition costs and higher customer retention.

Furniture plays a crucial role in our lives, enhancing our spaces and reflecting our personal styles. In the past, purchasing big-ticket items like beds, couches, and desks required a visit to a physical store. However, with the growth of eCommerce, this opportunity is changing. Did you know that 81% of consumers now start their shopping journey online? The internet makes it easier for consumers to research, compare, and purchase products from anywhere. Alongside this shift, point of sale financing has also transitioned from traditional in-store options to online platforms.

Point of sale financing (POS financing), also known as checkout financing, consumer financing, micro-financing, or “buy now, pay later” (BNPL), offers significant benefits to both consumers and merchants. It serves as an alternative payment method, enabling consumers to avoid hefty credit card bills by providing financial solutions at the point of purchase. This method divides purchases into manageable payments, making it an ideal option for mid to high-value checkouts.

Opportunity for merchants with POS financing

Merchants who incorporate POS financing into their checkout process can offer several advantages to their customers:

• Positive customer experience
• Higher conversion rates
• Increase in average order values (AOVs)
• Wider customer base
• User-friendly experience

Consumers today prefer using their debit cards over credit cards due to high-interest rates, which can range from 18% to 29.9%. Excessive use of credit cards can negatively impact a consumer’s credit score. Point of sale financing provides a solution, eliminating friction for shoppers who may not qualify for personalized loans or prefer not to use credit cards. Since point of sale financing is a form of personal loan not linked to a credit card, it can help improve credit scores through consistent on-time payments.

Opportunity: rise in short-term installment loans

There has been a notable increase in short-term installment loans over the past 3-5 years. According to Visa’s chief economist, there is a “massive increase in alternative lending.” About 70% of purchase installment loans are short-term, typically lasting between 3 to 12 months. It’s no surprise that 74% of U.S. cardholders find installment plans helpful for budgeting, and 70% believe they reduce the stress of making a large purchase upfront. By offering point of sale financing, merchants can strengthen their relationships with customers.

Enhancing customer loyalty with POS financing

Offering point of sale financing isn’t just about increasing average order values; it’s also about building customer loyalty. When consumers are presented with flexible financing options at checkout, they feel valued and understood. This tailored shopping experience can significantly boost customer satisfaction, leading to repeat purchases and long-term loyalty. Moreover, merchants using an embedded lending platform can provide customers with a seamless and integrated financing experience, whether shopping online or in-store.

Seizing the opportunity with omnichannel retail financing

In today’s retail environment, customers expect a smooth shopping experience across all channels. By integrating embedded financing solutions, merchants can offer consistent and convenient payment options both online and in physical stores. This omnichannel lending approach ensures that customers can access financing whenever and wherever they shop, enhancing their overall experience. A well-implemented embedded finance platform enables customers to start their shopping journey online and complete it in-store, or vice versa, with ease.

Opportunity for growth with B2B financing

The opportunity for growth in B2B financing is immense, especially as more businesses seek white label POS systems and BNPL solutions to better serve their customers. These embedded lending networks provide merchants the ability to customize financing options to suit their brand and customer base. By offering white label BNPL solutions, businesses can provide a personalized checkout experience that encourages higher spending and builds brand loyalty. The demand for in-store finance options alongside ecommerce financing is rising, making omnichannel financing a crucial strategy for retailers aiming to stay competitive.

Selecting the right embedded finance platform

Choosing the right embedded finance platform is crucial for merchants who want to maximize the benefits of point of sale financing. A robust POS financing platform should offer:

• Multiple lender options to cater to diverse customer credit profiles
• Easy integration with existing systems for a seamless checkout process
• Flexible financing terms that align with customer needs and business goals
• Data security and compliance to protect customer information

By implementing a comprehensive embedded lending platform, merchants can offer a superior checkout experience that drives customer satisfaction and increases sales.

Benefits of implementing a white label BNPL solution

For businesses looking to enhance their brand identity and customer experience, implementing a white label BNPL solution can be transformative. By offering buy now, pay later options under their branding, merchants can:

• Build stronger brand recognition with a cohesive shopping experience
• Increase customer trust through familiar and branded payment solutions
• Customize financing options to better meet their target market’s needs

A white label BNPL system allows retailers to maintain control over customer interactions while providing the flexible financing options that shoppers are increasingly seeking. This can lead to higher customer retention rates and increased sales opportunities.

The growing importance of in-store financing

While eCommerce continues to grow, in-store shopping remains a significant part of the retail landscape. Offering in-store financing options is crucial for merchants who want to provide a complete omnichannel experience. In-store financing enables customers to make immediate purchases without the upfront financial burden. It also helps merchants capture sales that might otherwise be lost due to high ticket prices. By incorporating embedded financing solutions into physical stores, retailers can offer the same convenient payment options found online, ensuring a seamless shopping experience across all touchpoints.

Conclusion: maximizing every sale opportunity with POS financing

The rise of point of sale financing presents a significant opportunity for both consumers and merchants. By offering flexible and personalized financing options, merchants can enhance the shopping experience, increase average order values, and foster customer loyalty. Whether through embedded financing networks, white label BNPL solutions, or omnichannel lending strategies, businesses have the tools to meet the evolving needs of their customers. Implementing a robust POS financing platform allows retailers to not only maximize every sale opportunity but also position themselves for sustained growth in a competitive market.

 As a furniture retailer, you face numerous challenges, from intense competition to driving more foot traffic and encouraging customers to spend more on high-ticket items. The ultimate goal is to boost conversion rates. Here are four innovative strategies to help merchants drive sales and stand out from competitors.

Build a brand competitor can’t match.

Content marketing takes many forms, including blogs, webinars, and social media posts. Since this is often consumers’ first interaction with your brand, creating engaging and educational content is critical. Whether shopping for furniture or exploring embedded finance solutions, well-crafted content can drive demand while keeping costs low.

For instance, a mattress brand, Purple, has achieved tremendous success through content marketing. OverthinkGroup says “purple mattress” is searched 400,000 times a month on Google, outpacing even the generic term “mattress.” Over 71% of Purple’s organic traffic comes from branded search terms, which shows the importance of building a brand that customers seek out directly.

However, digital advertising can get expensive. Retail Dive reports that Google’s cost-per-click (CPC) has risen 14% in the past year, and keywords like “best couch” or “best dresser” are no longer as cost-effective. To maximize your organic traffic, build a brand that people search for—just like Purple—by consistently producing relevant, engaging content.

Outpace competitors with promo code pages

Furniture purchases can range from a few hundred to several thousand dollars, and customers often look for discounts at checkout. Instead of allowing customers to search elsewhere for coupons, why not host a promo code page directly on your website?

You can offer exclusive promotions or discount codes to customers who subscribe to your newsletter. This increases conversions and presents an opportunity to engage customers through email marketing. OverthinkGroup reports that Purple’s discounts and promotions page is one of its top SEO pages. By creating a similar page, you can offer e-commerce financing, special promotions, and product information directly to interested shoppers.

Offer better financing options than competitors.

Providing point-of-sale (POS) financing at checkout is essential to drive more sales, especially for high-ticket items. This type of embedded financing offers customers the flexibility to purchase what they need without the immediate burden of total payment. By integrating POS lending into your checkout process, you make it easier for customers to make purchases, both in-store and online.

For example, a customer purchasing a $3,949 sectional sofa might hesitate to put the total amount on their credit card due to high interest rates. With POS financing, customers can apply for funding and choose a payment plan that suits their budget. This increases conversion rates and leads to larger order values as customers feel more comfortable adding additional items to their purchases.

Offering white-label POS systems allows retailers to give customers more purchasing power, increase order values, and boost satisfaction. Flexible financing options such as BNPL white-label solutions and omnichannel lending further enhance the customer experience by providing personalized payment plans.

Beat competitors with omnichannel financing.

Consumers today expect a seamless shopping experience across all platforms—whether in-store, online, or through a mobile app. Offering omnichannel financing ensures that customers can access flexible payment options regardless of where they shop. By partnering with an embedded lending platform, retailers can provide consistent online and in-store financing options.

Retailers who embrace white-label BNPL solutions or POS financing platforms can offer customized payment plans tailored to their customer base. These solutions help improve conversion rates and boost customer loyalty by making large purchases more accessible. Providing omnichannel financing allows customers to choose their preferred payment method, allowing them to stand out from competitors.

Leverage embedded finance to reduce cart abandonment.

Cart abandonment is a significant issue for retailers, particularly in e-commerce. Studies show that 81% of consumers abandon their carts, often due to overwhelming order values or limited payment options. Offering embedded financing at checkout can help reduce this issue by allowing customers to break up payments into manageable amounts.

With embedded financing solutions, customers are more likely to complete their purchases. Offering POS financing and BNPL white label services at checkout provides customers with more payment options, improving the likelihood of conversion. By embedding these options directly into the checkout process, customers can easily access funding without leaving your website.

Use white-label BNPL solutions for a seamless experience

Buy Now, Pay Later (BNPL) services are rapidly gaining popularity among consumers. Retailers can tap into this demand by offering white-label BNPL solutions, which allow customers to split payments while keeping your brand at the forefront.

This type of embedded finance is beneficial for large-ticket items, where customers may hesitate to pay the total amount upfront. By offering flexible payment options like BNPL, you create a better shopping experience that encourages customers to complete their purchases.

Incorporating white-label BNPL solutions strengthens brand loyalty by providing a seamless and branded financing experience. Customers are more likely to trust your business and return for future purchases when they can access flexible payment options.

The furniture and home goods industry, encompassing the manufacturing, distribution, and retail of home furnishings, is undergoing significant changes. This includes household decor, soft furnishings like draperies and curtains, appliances, cookware, and gardening equipment. The 2008 recession dramatically impacted the global home industry as consumers cut back on non-essential spending. As disposable incomes dropped, home improvement projects were put on hold.

While the economy has since recovered, consumer spending habits have shifted, particularly among Millennials. The 2008 financial crisis divided this generation into two distinct groups. Older Millennials, Gen X, and Baby Boomers faced challenging job markets and stagnant wages, making saving difficult. On the other hand, younger Millennials, who entered the workforce post-recession, have become more risk-averse, having witnessed the financial difficulties firsthand. This change in economic behavior is evident in their attitudes toward credit and consumer financing.

According to The Washington Post, Americans aged 18-35 have decreased their net worth by 34% since 1996. Middle-class life is 30% more expensive than it was two decades ago, with rising rent and college education costs. However, as the economy stabilizes, consumers regain confidence and demand more flexible payment options, particularly when purchasing big-ticket items like furniture.

Changing consumer behavior: The rise of POS financing

InfluencedToday by the recession and their parents’ experiences with credit card debt, today’s young adults are increasingly favoring debit cards. 63% of Millennials and Generation Z do not own a single credit card, even though they will make up more than half of the consumer market in the coming years. As merchants, it’s crucial to consider how the declining use of credit cards might affect your sales.

This is where point-of-sale (POS) financing comes in. By offering flexible payment options like POS lending and BNPL white-label solutions, you can cater to younger consumers who either can’t or don’t want to apply for traditional credit cards. According to American Banker, short-term installment loans have gained popularity in recent years, with 87% of consumers expressing interest in paying for large purchases via monthly installments.

What is POS financing and how does it work?

POS financing, also known as embedded financing, offers consumers an alternative payment method without relying on credit cards. Customers can choose in-store or e-commerce financing at checkout alongside traditional methods like Visa and PayPal. Once selected, the consumer completes a simple financing application directly on the merchant’s website.

The process is powered by an embedded finance platform integrated with a white-label POS system. This ensures a seamless user experience with no redirects. The financing application goes through an embedded lending network, where lenders compete to offer the best financing terms. Customers can pay over 6, 12, 18, or even 48 months, often with 0% APR when specific terms are met. Thanks to their extensive embedded lending platform, solutions like ChargeAfter report 85% approval rates.

How POS financing benefits furniture retailers

As consumer spending habits evolve, furniture retailers must adapt to new payment trends to remain competitive. POS financing platforms like ChargeAfter provide retailers with tools to offer omnichannel financing, helping to boost sales both online and in-store. By integrating in-store financing options, furniture merchants can provide customers more flexibility at checkout, encouraging higher purchase amounts without the upfront financial burden.

According to recent studies, furniture retailers who utilize POS lending have seen their average order value increase by 45%. This rise in order value is primarily driven by the ability to break down large purchases into smaller, manageable payments. For furniture, which is often a high-ticket item, offering BNPL white label or white label BNPL solutions can significantly improve customer satisfaction and increase conversion rates.

By providing embedded finance solutions, furniture retailers cater to the growing preference for installment payments and enhance their brand’s overall shopping experience. Whether an e-commerce platform or a physical store, offering white-label POS systems ensures seamless transactions, keeping customers engaged throughout the purchasing journey.

The importance of embedded lending in furniture sales

Implementing embedded lending solutions is becoming increasingly essential for furniture retailers. Consumers are now looking for more than just product quality—they want flexibility and convenience when it comes to financing. With an embedded lending platform, merchants can offer tailored financing solutions based on individual customer needs, increasing approval rates and helping convert hesitant buyers into loyal customers.

The embedded finance platform works in real time to connect consumers with various financing options, allowing them to choose the most suitable terms without leaving the retailer’s site. This integration eliminates friction in the purchasing process, ensuring a seamless and stress-free experience for the merchant and the buyer.

Retailers who incorporate embedded lending solutions see a higher rate of completed sales, as customers appreciate the ease of financing and the range of options available. Omnichannel lending options, in-store or online, give consumers more control over their financial decisions, increasing customer loyalty and long-term growth.

Increase sales with in-store and e-commerce financing

In the furniture industry, where purchases represent significant financial commitments, flexible payment options like in-store financing and e-commerce financing can be a crucial differentiator. Many customers may hesitate to make large purchases due to financial constraints, but offering POS financing allows them to break up the payment into manageable installments. This not only makes the purchase more accessible but also encourages consumers to buy higher-value items.

For retailers, adopting embedded financing solutions helps to increase overall sales volume. By integrating these options into physical and digital stores, merchants can provide a consistent shopping experience across channels. According to recent data, businesses that offer POS financing platforms see a significant reduction in cart abandonment rates, especially for higher-priced products like furniture.

This omnichannel approach to financing expands the reach of a furniture store and enhances the customer journey, ensuring that whether a customer is shopping online or in-store, they have access to flexible payment options. As more retailers adopt embedded finance platforms, those who fail to do so risk losing out on a growing market of budget-conscious, tech-savvy consumers.

The power of embedded lending networks for furniture retailers

For furniture retailers looking to optimize their sales process, leveraging an embedded lending network can be transformative. This network connects retailers with multiple lenders, allowing them to offer personalized financing options to customers with various credit profiles. Merchants can significantly increase approval rates by providing tailored financing solutions, ensuring more customers can complete their purchases.

Using an embedded lending platform means financing options are seamlessly integrated into the checkout process without redirects or third-party interactions. Customers appreciate this convenience and are more likely to complete their purchase when they can select from several financing options that match their needs.

Retailers benefit from embedded lending because it removes traditional barriers to financing, such as lengthy approval processes and high rejection rates. This approach is efficient in the furniture market, where big-ticket items often require financing. Merchants that utilize an embedded finance platform position themselves as flexible, customer-friendly brands, which can ultimately lead to increased customer loyalty and higher lifetime value.

Omnichannel financing: Future-proofing furniture sales

As consumer preferences evolve, omnichannel financing will play an increasingly important role in future-proofing the furniture industry. Retailers who offer POS financing across multiple platforms—in-store, online, or through mobile channels—will have a distinct advantage in capturing a larger market share.

Today’s consumers expect flexibility not only in how they pay but also in where they shop. An embedded finance platform that supports omnichannel lending ensures that customers can access the same financing options no matter where they make their purchase. This seamless integration across channels helps build customer trust and increases the likelihood of higher purchase volumes.

Furniture retailers that adopt this approach are setting themselves up for success in a rapidly changing retail environment. By offering embedded finance solutions catering to the modern consumer’s desire for flexibility, merchants can attract new customers, improve conversion rates, and drive growth for years.