Offer finance for garden furniture

Offer Finance for Garden Furniture

Garden furniture has become an essential part of modern living, especially as more people are embracing the concept of outdoor living spaces. Whether it’s a stylish dining set, a luxurious daybed, or a cosy fire pit seating area, garden furniture allows homeowners to extend their living space into the outdoors, creating a perfect place for relaxation and social gatherings. However, quality garden furniture can be a significant investment, which is where offering finance for garden furniture purchases can make a substantial difference for both retailers and customers alike.

In this article, we will explore the benefits of offering finance options for garden furniture, how it can increase sales, and how retail finance brokers like Kandoo can help businesses implement flexible finance solutions. We will also discuss how finance options can help customers spread the cost of their purchases, making high-quality outdoor furniture more accessible to a broader range of buyers.

The Growing Demand for Garden Furniture

In recent years, there has been a notable increase in the demand for garden furniture. With more people spending time at home, particularly in the wake of the COVID-19 pandemic, the desire to create functional and aesthetically pleasing outdoor spaces has surged. Homeowners are increasingly investing in high-quality garden furniture to transform their gardens, patios, and balconies into versatile spaces for dining, relaxing, and entertaining.

However, with this increased demand comes a higher price tag. Quality garden furniture, made from durable materials like teak, rattan, or aluminium, often comes with a premium price. While many customers aspire to have stylish and durable outdoor furniture, the upfront cost can be a barrier for some.

This is where offering finance options can be a game-changer for garden furniture retailers. By providing customers with the opportunity to spread the cost of their purchase over time, businesses can make garden furniture more affordable and accessible, ultimately driving sales and customer satisfaction.

Why Offer Finance for Garden Furniture?

Offering finance options for garden furniture provides a range of benefits for both customers and retailers. Let’s take a closer look at some of the key reasons why offering finance can be advantageous:

1. Increased Sales and Average Order Value

When customers are presented with the option to spread the cost of their purchase over several months or even years, they are more likely to make larger purchases. Instead of limiting themselves to a budget for a one-off payment, customers can afford to choose more premium items or purchase additional pieces, such as matching accessories or larger seating sets.

For retailers, this means higher sales and increased average order value. By offering finance, you can encourage customers to invest in higher-end products that they may not have been able to afford upfront.

2. Improved Customer Satisfaction

Finance options can significantly enhance the customer experience. Customers appreciate having flexible payment options, especially when it comes to big-ticket items like garden furniture. Offering finance allows customers to manage their budgets more effectively, reducing the financial strain of making a large purchase all at once.

When customers feel that a business is accommodating their financial needs, they are more likely to have a positive experience, which can lead to repeat business and word-of-mouth referrals.

3. Attract a Wider Range of Customers

Not everyone has the disposable income to make large purchases upfront, especially in today's economic climate. By offering finance, you can attract a wider range of customers, including those who may not have considered purchasing from you otherwise.

Finance options make high-quality garden furniture accessible to a broader demographic, allowing you to tap into new customer segments and increase your overall customer base.

4. Stay Competitive in the Market

In an increasingly competitive retail environment, businesses need to find ways to stand out from the crowd. Offering finance options can give your business a competitive edge, especially if your competitors are not providing similar solutions. Customers are more likely to choose a retailer that offers flexible payment options, as it provides them with greater convenience and affordability.

Types of Finance Options for Garden Furniture

There are several types of finance options that retailers can offer to customers looking to purchase garden furniture. Each option comes with its own set of advantages, and the right choice will depend on the needs of your business and your customers.

1. Interest-Free Credit

Interest-free credit, also known as 0% finance, allows customers to spread the cost of their purchase over a set period without incurring any interest charges. This is an attractive option for customers, as they can pay for their garden furniture in manageable instalments without paying any extra for the privilege.

Retailers benefit from interest-free credit by increasing sales and encouraging customers to make larger purchases. However, it’s important to note that the retailer typically absorbs the cost of the interest, so it’s essential to weigh the potential sales increase against the cost of offering this option.

2. Buy Now, Pay Later (BNPL)

Buy Now, Pay Later schemes allow customers to take their garden furniture home immediately and defer payment for a set period. After the deferred period, the customer either pays the full amount or starts making instalment payments.

This option is particularly appealing to customers who may be waiting for a financial windfall, such as a bonus or tax refund, and want to enjoy their purchase in the meantime. Retailers benefit from BNPL by offering customers flexibility while still securing the sale.

3. Low-Interest or Standard Finance

Low-interest or standard finance options allow customers to spread the cost of their garden furniture purchase over a longer period, typically with a lower interest rate than a standard credit card. This option appeals to customers who are comfortable paying a small amount of interest in exchange for the ability to spread their payments over time.

Retailers can benefit from offering low-interest finance by attracting customers who may not qualify for 0% finance or who prefer longer payment terms.

How Kandoo Can Help Retailers Offer Finance for Garden Furniture

As a leading UK retail finance broker, Kandoo specialises in helping businesses offer flexible finance options to their customers. Whether you’re a small independent garden furniture retailer or a larger chain, Kandoo can provide tailored finance solutions that suit your business model and customer base.

Kandoo works with a wide network of lenders to offer competitive finance options, including interest-free credit, low-interest finance, and Buy Now, Pay Later schemes. By partnering with Kandoo, you can offer your customers a range of finance options, helping to make their dream garden furniture more affordable and accessible.

Here’s how Kandoo can benefit your business:

1. Flexible Finance Solutions

Kandoo offers a range of flexible finance solutions that can be tailored to meet the specific needs of your business and your customers. Whether you want to offer interest-free credit, BNPL, or low-interest finance, Kandoo can help you implement the right solution.

2. Access to Multiple Lenders

Kandoo works with a wide network of lenders, ensuring that you have access to the best finance options available. This means that your customers can benefit from competitive rates and flexible payment terms, making their purchase more affordable.

3. Easy Integration

Kandoo makes it easy to integrate finance options into your business. Whether you operate an online store or a brick-and-mortar shop, Kandoo can provide a seamless finance solution that works with your existing systems. Their user-friendly platform ensures that offering finance to your customers is a straightforward process.

4. Compliance and Security

Kandoo is fully regulated by the Financial Conduct Authority (FCA), ensuring that all finance options are compliant with UK regulations. This gives you and your customers peace of mind, knowing that the finance options are secure and trustworthy.

5. Customer Support

Kandoo provides excellent customer support to both retailers and customers. If your customers have any questions or concerns about their finance options, Kandoo’s team of experts is on hand to assist, ensuring a smooth and stress-free experience.

How Finance Options Benefit Customers

Offering finance options not only benefits retailers but also provides significant advantages for customers. Here’s how finance options can make a difference for your customers:

1. Affordability

Finance options allow customers to spread the cost of their garden furniture purchase, making it more affordable. Instead of paying a large sum upfront, customers can make manageable monthly payments, reducing the financial burden.

2. Access to Higher-Quality Products

With finance options, customers can afford to purchase higher-quality garden furniture that may have been out of their budget if they were paying upfront. This means they can invest in durable, stylish pieces that will last for years, rather than settling for lower-quality alternatives.

3. Flexibility

Finance options provide customers with greater flexibility when it comes to managing their finances. Whether they prefer interest-free credit, low-interest finance, or Buy Now, Pay Later schemes, customers can choose the option that best suits their financial situation.

Conclusion

Offering finance for garden furniture is a win-win for both retailers and customers. For retailers, it can lead to increased sales, higher average order values, and a broader customer base. For customers, finance options make high-quality garden furniture more affordable and accessible, allowing them to create the outdoor living space of their dreams without the financial strain.

By partnering with a trusted retail finance broker like Kandoo, businesses can easily implement flexible finance solutions that benefit both their customers and their bottom line. With Kandoo’s expertise, retailers can offer competitive finance options, attract new customers, and stay ahead in an increasingly competitive market.

If you’re a garden furniture retailer looking to offer finance options, consider working with Kandoo to provide your customers with the flexibility they need to make their outdoor living space aspirations a reality.