Gateway to higher margins
Flexible finance provides a golden opportunity for installers to not only upsell additional products and services, but to secure higher margins, according to Adrian Hicks, senior account manager at Improveasy.
With the backing of the latest data, he argues that the greater flexibility of affordable monthly payments provides the impetus for homeowners to opt for higher-value, more aspirational home improvements. It also provides an opportunity for homeowners to complete any other necessary home improvements at the same time.
“Despite changing consumer tastes towards colour, aluminium and flush sash windows, many of these high-ticket items can be out of reach for the majority of homeowners,” Adrian said. “However, the introduction of flexible finance such as 0% APR or our popular ‘buy now pay later’ package means homeowners can opt for these aspirational home improvements without affecting their cashflow or spending over and above their savings.
“This is great news for installers too as they now have a mechanism to secure those higher margins. Casements can become stunning VS or flush sash windows, standard PVCU could become coloured or aluminium, while a conservatory refurbishment or roof change could even become a luxury orangery or extension.
“There’s also the opportunity for homeowners to increase the size of their project. What may have begun as a simple window replacement project could now include a roofline upgrade or maybe even a new composite door. Without overcommitting, homeowners can use part or all of their initial budget as a deposit, and pay the remaining balance in affordable monthly instalments.
Adrian also said that 53% of consumers will increase their spend with point-of-sale finance options.
As the exclusive finance partner to Fensa and GGF Group members, new customers can benefit from a year’s free membership of Fensa when they sign-up with Improveasy.