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Waterbox Aquariums has been designing aquariums since 2016, and officially launched as a brand in 2018. With distribution to over 30 countries, the company prides itself on making the highest–quality aquariums possible. It’s also committed to supporting customers, both through educational and promotional content on its YouTube channel, and through offering affordable finance options for its product range.
Waterbox Aquariums wanted to provide flexible finance options at checkout, which would allow customers to spread the cost on its high-quality products and accessories. However, they were concerned about finding the right finance provider to meet their needs:
Low credit limit:
The company needed a finance provider who could offer interest free credit options that covered its higher-ticket items to boost sales.
Short-term lending:
Due to the high average order value of some items, the company wanted a provider who could offer longer-term interest free options, so customers could spread the cost affordably.
Approvals and conversions:
As a customer-centric business, the company focused on finding a finance provider with ethical lending practices, who could deliver high approval and conversion rates.
Waterbox Aquarium’s search for a finance provider that aligned with its needs led them to DivideBuy. With option to spread the cost up to 60 months, a checkout journey of less than two minutes and a credit appetite that aligned with the company’s needs, DivideBuy helped Waterbox Aquariums achieve its goals.
Increased sales
Thanks to DivideBuy’s flexible finance options and upper credit thresholds, Waterbox Aquariums increased its revenue by 34% from January to September 2023.
Increased conversions
Offering DivideBuy’s retail finance solutions at checkout and throughout the customer journey saw Water Aquarius increase conversion rates by 17% from January to September 2023
Strong approval rates
DivideBuy’s Eligibility Checker tool, which lets customers run a soft credit check ahead of applying for finance, helped deliver approval rate averages of nearly 70%.
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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
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