Offer finance for outdoor furniture

Why Offering Finance for Outdoor Furniture is a Smart Business Move

The outdoor furniture market in the UK has grown significantly in recent years, driven by consumers' increasing interest in enhancing their gardens, patios, and outdoor spaces. As more homeowners and renters seek to create comfortable and aesthetically pleasing outdoor environments, the demand for quality outdoor furniture continues to rise. However, many potential customers may hesitate to make a large upfront investment in high-end outdoor furniture. This is where offering finance options can be a game-changer for businesses.

Providing finance options for outdoor furniture not only makes high-ticket items more accessible but also gives your business a competitive edge. By allowing customers to spread the cost of their purchase over manageable instalments, you can increase your sales, improve customer satisfaction, and foster long-term loyalty. In this article, we will explore the benefits of offering finance for outdoor furniture and how partnering with a reputable finance broker like Kandoo can help streamline the process.

The Growing Demand for Outdoor Furniture

Before diving into the advantages of offering finance, it’s important to understand the context of the growing demand for outdoor furniture in the UK. Over the last decade, outdoor living has become a significant trend. Many homeowners now view their garden or patio as an extension of their indoor living space, investing in outdoor furniture that reflects their style and needs.

According to industry reports, the UK outdoor furniture market is expected to continue growing steadily. Factors contributing to this growth include:

• Staycation popularity: With more people opting to spend holidays at home or within the UK, there has been a surge in interest in making outdoor spaces more comfortable and inviting.
• Eco-conscious consumers: Sustainable materials and eco-friendly designs are increasingly sought after in outdoor furniture, pushing customers to invest in quality products that align with their values.
• All-year-round outdoor living: The availability of outdoor heaters, fire pits, and weather-resistant furniture means that many UK residents can enjoy their outdoor spaces throughout the year.

With the demand for high-quality outdoor furniture on the rise, many customers are seeking ways to finance their purchases. By offering finance, your business can cater to a wider audience and capture sales that might otherwise be lost due to budget constraints.

Benefits of Offering Finance for Outdoor Furniture

1. Make High-Quality Furniture Affordable

One of the most significant advantages of offering finance options is that it makes premium outdoor furniture more affordable to a broader range of customers. High-quality garden furniture, such as durable rattan sets, wooden dining tables, or weather-resistant loungers, can come with a hefty price tag. For many, the initial outlay for these items can be daunting, leading them to delay or abandon their purchase altogether.

By providing finance options, you allow customers to break down the cost into manageable monthly payments, making it easier for them to commit to their purchase. This not only increases the likelihood of completing the sale but also encourages customers to opt for higher-end products, knowing they can spread the cost over time.

2. Increase Sales and Average Order Value

Offering finance can significantly boost your sales and, more importantly, increase the average order value (AOV). When customers are given the option to pay in instalments, they are more likely to purchase larger, more expensive items or even multiple pieces of furniture in one transaction.

For example, a customer who initially planned to buy just a table may decide to add chairs, a parasol, or even a fire pit to their order if they know they can pay for it over several months. As a result, offering finance can lead to higher revenue per transaction and increased overall sales.

3. Enhance Customer Loyalty and Satisfaction

In today’s competitive retail landscape, customer experience is key. By offering flexible payment options, you demonstrate that you understand your customers' needs and are willing to make their shopping experience as seamless as possible. Customers who have access to finance are more likely to feel satisfied with their purchase, knowing they have the flexibility to manage their finances while still getting the products they want.

Moreover, offering finance can help build long-term customer loyalty. If a customer has a positive experience purchasing outdoor furniture on finance, they are more likely to return to your business in the future and recommend you to friends and family.

4. Cater to a Broader Audience

By providing finance options, you can cater to a wider range of customers, including those who may not have the funds available to make an immediate purchase. Finance options appeal to various demographics, from young professionals looking to furnish their first outdoor space to retirees who want to upgrade their garden furniture without depleting their savings.

Furthermore, finance options can be especially attractive to customers who prefer to maintain their cash flow or keep their savings intact for other priorities. Offering finance ensures that you don’t lose potential sales to competitors who provide more flexible payment solutions.

5. Stay Competitive in the Market

As the outdoor furniture market continues to grow, so does the competition. Many retailers are already offering finance options to attract customers, and failing to provide this service could put your business at a disadvantage. By partnering with a trusted retail finance broker like Kandoo, you can stay competitive and ensure that your business remains a top choice for customers seeking high-quality outdoor furniture.

How Kandoo Can Help You Offer Finance for Outdoor Furniture

Now that we’ve established the benefits of offering finance, the next step is to choose the right partner to facilitate this service. Kandoo is a leading retail finance broker in the UK that specialises in helping businesses offer flexible payment options to their customers.

Here’s how Kandoo can help your business offer finance for outdoor furniture:

1. Simple and Transparent Process

Kandoo provides a straightforward and transparent process for both retailers and customers. By integrating Kandoo’s finance solutions into your business, you can offer your customers a seamless way to apply for finance at the point of sale. Customers can easily access finance options directly through your website or in-store, ensuring a hassle-free experience.

Kandoo also ensures that all finance terms are clearly communicated to customers, so they understand their payment plan, interest rates, and repayment schedule from the outset. This transparency helps build trust and confidence in the finance process.

2. Access to a Range of Lenders

One of the key advantages of working with Kandoo is that they provide access to a wide panel of UK lenders. This means that your customers have a better chance of being approved for finance, even if they have a less-than-perfect credit history. Kandoo’s extensive network of lenders increases the likelihood of finding a finance solution that suits your customers' needs, allowing you to cater to a broader audience.

3. Flexible Finance Options

Kandoo offers a variety of finance options, including interest-free credit, low-interest instalment plans, and buy-now-pay-later schemes. This flexibility ensures that your customers can choose a payment plan that fits their budget and financial situation. Whether they want to spread the cost over six months or two years, Kandoo can provide a tailored solution.

4. Quick and Easy Integration

Kandoo makes it easy for businesses to integrate their finance solutions into their existing sales process. Whether you run an online store or a physical showroom, Kandoo’s finance options can be seamlessly incorporated into your checkout process. This ensures a smooth customer journey, from browsing outdoor furniture to completing the purchase with a finance plan.

5. Support and Guidance

Kandoo offers comprehensive support and guidance to help your business succeed with finance offerings. From training your staff on how to present finance options to customers, to providing marketing materials that promote your finance solutions, Kandoo is committed to helping you maximise the benefits of offering finance.

Conclusion

Offering finance for outdoor furniture is a strategic move that can boost sales, improve customer satisfaction, and give your business a competitive edge in a growing market. With more UK consumers looking to invest in their outdoor spaces, providing flexible payment options makes it easier for them to purchase high-quality furniture without the burden of an upfront cost.

Partnering with a reputable retail finance broker like Kandoo can simplify the process of offering finance to your customers. With their transparent process, access to a wide range of lenders, and flexible finance options, Kandoo ensures that both you and your customers benefit from a smooth and stress-free experience.

By offering finance, your business can cater to a broader audience, increase average order values, and foster long-term customer loyalty. In an increasingly competitive market, providing flexible payment options is not just a convenience – it’s a necessity for success.