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Retail in the UK is going through a turbulent time. Inflation is still unpredictable, interest rates have dropped but remain unpredictable, and global economic uncertainty is making long-term planning a challenge. In this environment, you need to find innovative ways to protect profit margins, grow sales, and future-proof your businesses.
One way to achieve this is by working with a retail finance provider. Offering retail finance for eCommerce and in-store purchases can help you increase conversions, attract more customers, and stay competitive in a rapidly evolving market.
The economic landscape: Why now?
The retail sector is under pressure from multiple angles. Rising operational costs, regulatory changes, new NI rules, and shifting consumer behaviours are all impacting profit margins. Traditional lending options can be restrictive, and many lenders who transact across numerous or specialist retail markets are facing internal challenges due to investor dependency, or possible regulatory exposure.
That’s why I believe now is the right time for merchants to explore alternative retail finance partnerships. At Zopa Bank Retail Finance, we’re in a strong position to offer stable, long-term support. As a bank with a solid deposit base, we aren’t fully reliant on external investors, and we have the flexibility to create financing solutions that truly work for your business.
Boosting sales with Retail Finance for eCommerce
Consumer habits are constantly evolving. More people are shopping online, researching purchases before stepping into a store, and expecting flexible payment options at checkout. Platforms such as Vinted and Amazon demonstrate the shift towards screen-based purchasing, making it essential for retailers to strengthen their online presence.
Yet, I’m often surprised by how many merchants still don’t offer interest-free credit options, even when their competitors do. In sectors where financing can make a difference, failing to provide flexible payment options, or insufficient website prominence, can mean losing sales to businesses that do. By integrating retail finance at checkout, you can increase basket sizes, improve conversion rates, and enhance customer loyalty.
More than a lender: A true partnership
Retail finance isn’t just about offering credit; it’s about forming strategic partnerships. A genuine retail finance provider should be invested in your success, helping to optimise the customer journey, improve online checkout experiences, and boost overall profitability.
At Zopa Bank Retail Finance, we see ourselves as more than just a lender. Our merchant success team work closely with partners to maximise conversions, develop insights from growing data analytics capabilities, and continuously refine our value proposition. With a strong eCommerce platform and plans for further integrations, the opportunity for bottom line growth is significant.
The future of Retail Finance
As DivideBuy become more integrated into Zopa Bank, our retail finance offering is set to expand. Merchants who partner with us now will benefit from a rapidly evolving product, designed to keep pace with market demands and consumer expectations.
With financial stability, a growing customer base, and a commitment to innovation, we are positioning ourselves as a key player in the market. If you’re looking for a strong, long-term partnership, one that’s focused on increasing sales and improving bottom-line performance, let’s have a conversation about how retail finance can help your business thrive.
In a retail landscape that is changing faster than ever, offering consumer credit is no longer a luxury – it’s a necessity. Don’t get left behind.
