Bank disguised as a store: The power of your own credit
Posted: Thu Jan 23, 2025 9:00 am
The title of this article may seem a bit shocking to you at first. But I believe that this is a subject that you, the retailer, should really think about very carefully. Your own credit system is really very powerful!
It is clear that stores that work with credit have very attractive benefits for consumers from emerging classes (C and D).
In store communications, for example, it is very common to see businesses highlighting installment sales.
They always try to highlight the possibilities of paying in installments on credit , communicating: ENTIRE STORE IN 5 INTEREST-FREE INSTALLMENTS or BUY NOW AND THE FIRST INSTALLMENT IS DUE AFTER CARNIVAL.
What a host of benefits for the customer, right? But what about the store? What are the benefits of this type of campaign? Ensuring sales? Ensuring receipts?
That's what we're going to understand in this article. Come with me!
Own credit: more profit and relationships
I believe that by advertising installment sales, the benefits to the store are much greater than simply guaranteeing a sale or receipt.
There is a key point in credit, which is strengthening the relationship with the customer. And, of course, that's not all. This operation can also bring many financial gains.
Strengthening the relationship
The challenge of having a bank disguised as a store is something that is still little explored by most retailers who use their own credit operations just to sell more.
But you will realize here that the possibilities go beyond the gains…
And if you still have doubts about credit as a tool to attract consumers and strengthen customer relationships, think about it: what customer wouldn't be happy to be able to make their purchases and finance them directly with the seller?
We can't deny it, it's an irresistible proposal.
In Brazil, we know that the credit customer profile is concentrated mainly among consumers from emerging classes. The SPC survey revealed that women are the ones who most often use credit in stores (31%), in addition to consumers from classes C, D and E (27%).
In the same survey, among those interviewed who used credit, 21% said they were attracted by the longer payment terms and 39% said they were unable to job seekers database pay in cash.
We see, then, that the emerging classes – a large part of which is unbanked – are a “golden goose” for the store that sells on credit.
These are customers with needs that the bank does not meet. Therefore, they are consumers in need of credit, but also of good relationships and GOOD SERVICE!
It's not enough to sell on credit, you know? Credit is the starting point for building a relationship between the customer and the store, but other aspects need to be addressed as well.
In the case of after-sales, credit also helps in the relationship. With the important data recorded in the registry, it is possible to develop personalized loyalty strategies that are actually attractive to customers.
There are indeed countless advantageous possibilities. Having said all that, let's look at the other benefit of taking out your own credit: the profits!
Does your store know how to take advantage of each customer visit to the store to make a new sale? Learn how in this video!
YouTube video
Increasing earnings with credit
Several stores have extremely significant financial gains from credit operations.
Some own 20% to 30% of the business through financial gains from the customer's financing operation.
There are even stores that use their own credit as their main source of income and, yes, they are successful.
However, it is important to highlight that, to obtain this type of result, these stores invest in credit technology that allows analysis and granting in a more practical way.
A good credit analysis platform gives you the convenience to deal with all the analysis demands and also considerably reduces the operational costs of your credit account.
Advantages of a credit analysis tool
One of the great advantages of a credit analysis tool is precisely to reduce the demand for analyses carried out by human beings.
In addition, you have access to a system based on credit scoring, which is a statistical model capable of assessing the risk of each sale much more assertively.
This way, you can know who to sell to without the risk of default, collect payments in a simple and practical way and guarantee all the advantages of your own credit plan.
There are cases of chain stores that, with credit technology, managed to exceed their sales target by 15% and reduce default by 27% . If you are not familiar with any such tool, I would like to introduce you to Meu Crediário. Visit our website by clicking here and check out more details!
Did you enjoy learning more about this? Contact our team of experts and find out how Meu Crediário can transform your business.
And be sure to check out our blog and social media , where we share valuable tips and insights to help you boost your sales and stand out in the market.
It is clear that stores that work with credit have very attractive benefits for consumers from emerging classes (C and D).
In store communications, for example, it is very common to see businesses highlighting installment sales.
They always try to highlight the possibilities of paying in installments on credit , communicating: ENTIRE STORE IN 5 INTEREST-FREE INSTALLMENTS or BUY NOW AND THE FIRST INSTALLMENT IS DUE AFTER CARNIVAL.
What a host of benefits for the customer, right? But what about the store? What are the benefits of this type of campaign? Ensuring sales? Ensuring receipts?
That's what we're going to understand in this article. Come with me!
Own credit: more profit and relationships
I believe that by advertising installment sales, the benefits to the store are much greater than simply guaranteeing a sale or receipt.
There is a key point in credit, which is strengthening the relationship with the customer. And, of course, that's not all. This operation can also bring many financial gains.
Strengthening the relationship
The challenge of having a bank disguised as a store is something that is still little explored by most retailers who use their own credit operations just to sell more.
But you will realize here that the possibilities go beyond the gains…
And if you still have doubts about credit as a tool to attract consumers and strengthen customer relationships, think about it: what customer wouldn't be happy to be able to make their purchases and finance them directly with the seller?
We can't deny it, it's an irresistible proposal.
In Brazil, we know that the credit customer profile is concentrated mainly among consumers from emerging classes. The SPC survey revealed that women are the ones who most often use credit in stores (31%), in addition to consumers from classes C, D and E (27%).
In the same survey, among those interviewed who used credit, 21% said they were attracted by the longer payment terms and 39% said they were unable to job seekers database pay in cash.
We see, then, that the emerging classes – a large part of which is unbanked – are a “golden goose” for the store that sells on credit.
These are customers with needs that the bank does not meet. Therefore, they are consumers in need of credit, but also of good relationships and GOOD SERVICE!
It's not enough to sell on credit, you know? Credit is the starting point for building a relationship between the customer and the store, but other aspects need to be addressed as well.
In the case of after-sales, credit also helps in the relationship. With the important data recorded in the registry, it is possible to develop personalized loyalty strategies that are actually attractive to customers.
There are indeed countless advantageous possibilities. Having said all that, let's look at the other benefit of taking out your own credit: the profits!
Does your store know how to take advantage of each customer visit to the store to make a new sale? Learn how in this video!
YouTube video
Increasing earnings with credit
Several stores have extremely significant financial gains from credit operations.
Some own 20% to 30% of the business through financial gains from the customer's financing operation.
There are even stores that use their own credit as their main source of income and, yes, they are successful.
However, it is important to highlight that, to obtain this type of result, these stores invest in credit technology that allows analysis and granting in a more practical way.
A good credit analysis platform gives you the convenience to deal with all the analysis demands and also considerably reduces the operational costs of your credit account.
Advantages of a credit analysis tool
One of the great advantages of a credit analysis tool is precisely to reduce the demand for analyses carried out by human beings.
In addition, you have access to a system based on credit scoring, which is a statistical model capable of assessing the risk of each sale much more assertively.
This way, you can know who to sell to without the risk of default, collect payments in a simple and practical way and guarantee all the advantages of your own credit plan.
There are cases of chain stores that, with credit technology, managed to exceed their sales target by 15% and reduce default by 27% . If you are not familiar with any such tool, I would like to introduce you to Meu Crediário. Visit our website by clicking here and check out more details!
Did you enjoy learning more about this? Contact our team of experts and find out how Meu Crediário can transform your business.
And be sure to check out our blog and social media , where we share valuable tips and insights to help you boost your sales and stand out in the market.