Helping your customers to shop responsibly is critical to your business growth. If you’re after sustainable growth and dreaming about becoming a big industry player, then read on to find out how to help your customers shop responsibly. Ultimately, you’ll be converting them into returning customers rather than broke ones.
The Credit Cycle Does Not Help Your Customers to Shop Responsibly
The credit system is archaic and destructive, and it would be short-sighted to rely on it as your only payment option at checkout. Who wants to watch their customers drive themselves into eye-watering debt for that couch? The awful experience will cause so much pain they may never return to your store again.
Ultimately, creating a place that perpetuates the destructive cycle of debt doesn’t make commercial sense. With credit facility’s interest rates soaring to over 20%, the shopping experience becomes the stuff nightmares are made of.
Cultivating Responsible Shopping Habits within your Store
You can lend a hand in improving South Africa’s credit crisis by making your customers aware that they can avoid credit altogether. Well, at least they can in your store!
You can help your customers shop responsibly by having other payment options at your checkout. This allows your customers to shop without the need for money lending. For example, Payflex is a Buy Now, Pay Later solution that is interest-free and has zero fees. The customer pays for their purchases in 4 instalments, risk-free. It’s a win-win model. To explain, it decreases your cart abandonment rates by 30% (hello more sales!) and your shoppers exercise a responsible paying decision. This results in a sustainable relationship and nurtures return visits.
Communication is Key
To further encourage responsible spending behaviour, your customers need education and communication around these topics. You should be providing them with thought leadership ideas around the topic of responsible spending. By You can build a strong relationship with your client by becoming a trusted advisor.
There is a massive global movement away from debt. The millennial generation is particularly petrified of it. In conclusion, your business should follow international revolutionary trends and offer its customers new innovative ways to keep shopping responsibly.