The gaming industry is constantly evolving as demand for high-end gaming equipment continues to grow. However, the high cost of gaming laptops, desktops, chairs and accessories can make it challenging for many customers to afford the latest gear.
That's where retail finance comes in, and with Deko's solutions, you can give shoppers more buying power by helping them spread the cost thanks to alternative payment methods.
Challenges gaming customers face when trying to finance gaming purchases
High-end items like gaming PCs cost thousands of pounds, making them unaffordable for many customers. With Deko's finance solutions, shoppers can spread the cost of their purchase over a longer period to ease the financial burden of paying in one setting.
However, customers are often left frustrated over the process of applying for finance. Traditional lenders often require a lengthy application process, making it challenging for many customers to get the financing they need. Or consumers are unaware of whether or not they qualify before applying.
Deko's finance solutions, on the other hand, are designed to be accessible to a broader range of shoppers who meet affordability requirements. With our multi-lender solution, where a shopper is automatically moved onto the next lender if rejected by the first one, we say 'yes' to more applications.
Not only that, but your customers can take advantage of the Will I Qualify tool, which allows them to see if they meet the criteria before applying. This way, shoppers feel more confident about obtaining the right type of finance for their needs as they can see the likelihood of being accepted.
Benefits of flexible finance solutions for online stores selling gaming items
Flexibility is key for any shopper. More payment choices increase the chance of a sale, with customers feeling more confident when their preferred payment methods are available. They can choose from a range of options, including interest-free periods, flexible payment plans tailored to their budget and digital credit account options.
Appeal to a broader customer base
Offering financing options from Deko allows you to appeal to a broader customer base, including those who might not have previously been able to afford high-end gaming equipment. Subsequently, your store can expect an increase in customers as you serve a broader range of demographics and personas.
Increase average order value
By enabling customers to spread the cost of their purchase over time, you can help to alleviate some of the financial burden. Customers are more likely to purchase higher-value items if they can pay in instalments. In addition, offering retail finance also makes your products more accessible, increasing the chances of shoppers paying more for a higher-end item.
Reduce cart abandonment
Cart abandonment is a common problem for all online retailers, but offering retail finance can be an effective way to reduce it. When shoppers are presented with high-value items and realise they can't afford the cost upfront, the likelihood of them abandoning their cart increases. By offering flexible finance, you can encourage customers to complete their purchases at the checkout by making stock more affordable and reducing the chances of a checkout drop-off.
More customer loyalty
Offering customers a broad range of payment options demonstrates a willingness to cater to their needs and preferences. Subsequently, shoppers are more likely to become regulars at your gaming store after a positive experience where they feel valued.
How Deko provides flexible finance solutions
Here at Deko, we provide a range of flexible finance solutions for a wide variety of industries, including gaming. Our aim is to make financing more accessible and affordable for your customers, increasing average order value (AOV) and reducing checkout drop-offs in the process. With retail finance, you can provide consumers with payment options that suit their unique needs.
Flexible solutions with Deko
Deko's flexible finance solutions offer a range of benefits for gaming companies and their customers. By providing more accessible and affordable financing, you can attract more shoppers and increase sales. At the same time, customers get the gaming equipment they need without breaking the bank. With a range of payment options, including instalment finance and digital credit; plus a fluid integration, Deko's finance solutions could be a game changer for your store.