Swimming in success: How Waterbox Aquariums increased sales with retail finance

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 highestquality 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.

Benefits of DivideBuy’s approach:
  • Increased GMV by 34% year to date in 2023 
  • 17% increase in conversion in 2023 to date 
  • 69% approval rate 
“From our roots to our current success, Waterbox Aquariums has always been a customer-centric business - with a focus on delivering added value alongside high-quality products. Factoring this into our search for a finance provider was key to partnering with DivideBuy, who are delivering a service that aligns with our own values of putting the customer first – while helping us reach our sales goals.”
Richard Gilliland
CEO, Waterbox Aquariums

The challenge:

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.  

 

The Solution

 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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Please note, a minimum turnover of £2.5M and minimum trading period of 24 months is required to offer DivideBuy finance solutions.

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