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What’s new?
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- Finance Solutions
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What’s new?
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- Support
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What’s new?
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Started in 2016, Furniture Maxi is an online retailer specialising in top quality home furniture, with a taste for the latest and best designs at astonishing prices.
The company’s products are handmade with great attention to detail. Furniture Maxi also works with the UK government to support its employees, their families and people in need by creating various job opportunities and continuously giving donations. The business is also proud to support locally produced furniture and buys or manufactures many of its products in the UK.
To help make its products more accessible to customers, Furniture Maxi decided to offer retail finance. Having never partner with a provider before, the company was looking for a solution which would help increase its customer base, whilst boosting its average order value. However, they needed a provider who could also offer longer term options, letting customer spread the cost over time to make affordable monthly instalments.
Furniture Maxi settled on DivideBuy, Zopa’s retail finance solution. With a sub-2-minute credit journey, simple application process and finance options up to 12 months, DivideBuy became an instant hit with customers. The solution delivered consistent levels of approval rates, with 80% of approved customers going on to complete a sale.
This allowed Furniture Maxi the level of predictability needed to inform its future sales objectives. Since launching DivideBuy on its website in April 2023, the company has experienced a £2.1m revenue uplift from credit sales.
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Will Labour regulate Buy Now Pay Later?
With a new Labour government in power, when will action will be taken around regulating the Buy Now Pay Later space?
Different types of consumer credit explained
Let’s take a closer look at the various types of consumer credit available, as well as which one may be right for your retail business.
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.
Sunday 29th September 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.