Retail finance and the entitled consumer
How a challenging market drives innovation: learning from the Australian experience.
The age of the entitled consumer has arrived.
Advances in technology, logistics and payments has created a new paradigm, where millions of consumers are literally shopping at every moment.
Buyer behaviour is evolving: increasing impact of millennials on our workforce and culture, changing the rules of retail:
- They rapidly embrace new technology
- Seek advice from alternate sources
- Demand greater levels of personalisation, convenience and immediacy
- Are less loyal to financial institutions
Retail finance options can improve sales (and solve the cart abandonment problem):
- A simple, easy and quick customer experience in store and at check-out
- Payment options that help customers budget, decrease abandonment and increase merchant sales
- Affordability provides access to new (larger) purchases