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Charles and Ivy have made it their mission to create a stylish, durable, low-maintenance modular fencing system that enables people to transform and personalize their gardens. As their range of superior products took the market by storm, their offer has evolved to products that elevate interior spaces as well.
The company wanted to offer retail finance so customers could access their full range of products in an affordable way.
Having never offered credit in the past, Charles and Ivy began their search for a provider, when they encountered some concerns.
Credit limits
The company’s initial offering was up to £6,000. However, customers were eager to purchase their higher-ticket items, which exceeded this amount, while spreading the cost.
Approval rates
Charles and Ivy wanted a provider who would safely approve as many customers as possible for finance, which could be complicated with such high order values.
Conversion rates
To make offering finance profitable, Charles and Ivy needed a provider who could convert customers successfully from browsers to buyers.
DivideBuy acted quickly to meet the needs of customers based on feedback, offering Charles and Ivy a seamless finance solution which yielded strong results, including:
High approval rates:
DivideBuy’s tech-based lending engine, along with its Eligibility Checker tool, delivered approval rates of 82% for Charles and Ivy’s customers
High conversion rates:
Thanks to a sub two-minute credit journey, from application to approval, 86% of customers approved for finance with DivideBuy went on to complete a credit purchase.
Higher credit limits:
DivideBuy was able to increase its spending limit for £6,000 to £12,000, meaning customers could access Charles and Ivy’s full product range on finance.
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Tell us about you
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Omnichannel shopping: it’s one of those buzzwords that’s been flying around retail for years. But what does it really mean, and more importantly, what does it mean for you as a UK merchant?
What is Panel Lending – and is it right for your business?
Panel lending lets you integrate multiple retail finance providers into your checkout experience. Instead of being tied to a single lender, you can give your customers the freedom to choose from a “panel” of lending options.
How to create tailored shopping bundles for customers
Want to know the best way to create tailored shopping bundles and offers your customer will love? Why not try conjoint analysis?
A/B testing: can it work for Retail Finance?
Want to learn how to use A/B testing to boost your credit sales? Here’s how our merchant partner Swyft made it work for them.
Interest free credit agreements provided by Zopa Bank Limited trading as DivideBuy that are 12 months or less in duration are not regulated by the Financial Conduct Authority and do not fall under the jurisdiction of the Financial Ombudsman Service. Zopa Bank Limited trading as DivideBuy is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and entered on the Financial Services Register (800542). Zopa Bank Limited (10627575) is incorporated in England & Wales and has its registered office at: 1st Floor, Cottons Centre, Tooley Street, London, SE1 2QG. VAT Number 281765280. DivideBuy’s trading address is First Floor, Brunswick Court, Brunswick Street, Newcastle-under-Lyme, ST5 1HH. © Zopa Bank Limited 2024. All rights reserved.
Tuesday 31st December 2024
Our merchant partner Simba is giving one lucky winner a Hybrid® mattress, duvet, and pillow bundle worth up to £2,952. Choose from one of their Comfort, our high-tech Deluxe or their heavenly Earth mattress ranges.