Articles tagged with: tips

Giving Credit: A New Dynamic Between Merchant and Lender

on Thursday, 16 February 2017. Posted in Blog

We are entering a period of some significant financial uncertainty. While the stock markets and the economy continue their upward momentum, at the same time there are signs of nervousness about the underpinnings of our country’s infrastructure, financial systems, and the ability of future generations to create and consolidate wealth as past generations did. In this environment, retailers must make everyday decisions that may make or break their businesses – decisions about inventory levels to keep, prices to charge, and credit to offer their customers. This is nerve-wracking stuff. It has to be right.

That last item, how much credit to offer and how to offer it, has become one of the key levers of financial success in the retail trades. There is hard evidence that having the right credit partners and offering the right credit programs can add 50% to the number of transactions and 33% to the amount a consumer will buy.

The Chairman’s Viewpoint: Thinking a Few Moves Ahead

on Wednesday, 14 December 2016. Posted in Blog

Chess PiecesThe best chess players think 5 moves ahead. In our experience, the best retailers do too.

The Christmas / Holiday sales season is a busy time for us all. So, first, thank you for spending a few moments reading this viewpoint. If you’re like our customers across a variety of retail industries, your sales floor right now shows all the signs of a profitable season, but also some of the following stresses:

    • sales people stressed out at all demands on their time
    • customers queued up to talk to sales people about products
    • financing conversations and paperwork taking up too much time
    • customers walking out the door unsatisfied with the sales experience and/or the financing options available to them

The Chairman’s Viewpoint: Breaking Bad

on Tuesday, 01 November 2016. Posted in Blog

The retail sales associate is not a unique breed. They typically settle in to a comfortable selling process that has been cultivated and established over years. Introducing a different approach can be uncomfortable. Therefore, resisting change is the norm with the typical retail sales associate. How can you break “bad”?

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