As a retail business owner, stocking expensive items can be daunting, as it can take longer to sell them compared to lower-priced products. However, by leveraging Buy Now Pay Later (BNPL) options from our partner Gratify, you can not only sell more of your slow-moving stock but also increase your inventory of higher-priced items that customers may have previously been hesitant to purchase outright.
How can BNPL help you stock (and sell) stock more expensive items?
When customers see expensive items, they may be hesitant to make the purchase outright. By offering BNPL options, you can make these purchases more accessible to a wider range of customers, as they are more likely to buy if they know they can spread the payments out over time. BNPL can also help move slow-moving stock. Customers may be more willing to purchase items that they may have previously overlooked if they can make smaller payments over time. This can also help increase customer loyalty, as they are more likely to return to your business if they know you offer flexible payment options.
By offering interest-free installment payments, you can make expensive items more affordable for your customers. This not only helps to increase your sales but also increases the likelihood of customers returning to make additional purchases in the future.
How can BNPL help?
BNPL options can be customized to fit your business needs. Our BNPL partner Gratify provides a seamless integration with your existing e-commerce platform, making it easy to offer BNPL options to your customers. Gratify also takes on the risk of non-payment, meaning you don't have to worry about customers defaulting on payments.
Moreover, Gratify's BNPL options can also help you free up cash flow by allowing you to finance more expensive items without the barrier of consumers worrying about large one-time payments. This means you can confidently invest in more expensive inventory (which often has higher margins) and offer financing, without putting a strain on your cash flow.
Conclusion
Merrco has partnered with Gratify to offer you an efficient and straightforward way of providing Buy Now Pay Later as a payment option for your customers. If you have any questions on how you can integrate BNPL payments into your business, please feel free to contact us at info@merrco.com or call us on our toll-free line at 1-800-957-0534.
By leveraging BNPL options from Gratify, you can increase your sales and be confident that you inventory of expensive items will move. By offering interest-free installment payments, you can make these products more accessible to customers, while also increasing customer loyalty.
With Gratify's seamless integration and marketing support, you can effectively promote your BNPL options and drive sales.