Why do customers buy from you? There are numerous reasons. Here are three reasons why customers buy.
1. Pricing
2. Product or Service
3. Payment options
Today’s consumers’ shop based on the purchase options available to them. Your customers still want purchasing options for items they can’t pay for in cash. Buy Now, Pay Later services to provide simple, affordable payment options to shoppers. Buy now pay later, also known as BNLP allows you to increase your pool of shoppers and make purchases simple and affordable. Not all consumers have a credit card or the a lump-sum payment for your products or services.
Most shoppers have expressed that they love the convenience of payment plans. If you are not offering payment plans you may be missing out on a lot of sales. Place yourself on your potential customer side for a moment. If you have the option to pay $400 per month as oppose to $1600 for an item, which one would you choose? Your customers have come to expect installment payment options when they shop. Retailers and distributors across the country have adopted installment loan options to help make their products more accessible to buyers.
Buy now pay later provide a simple and affordable payment method. While their are different programs for buy now pay later, in the end these programs have similarities. There is BNPL for service based businesses and for product based businesses. Also, programs can vary on interest rates and payment terms. Some BNPL products may be provided with 0% interest. That is very attractive and makes the buying decision much easier. Applying for financing has become easier. Most finance companies in the BNPL space, offer a 1 page simple application or an online application that takes less than 5 minutes to fill out. Also, programs can vary from no credit check to credit check.
Offering financing for your buyers is becoming easier. While not all of your customers may get approved, in the long haul most businesses increase sales from 20% to 100% per year.
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