Installment and credit solution on the website of the online store "Taksaexpress"

    Background 
"Taksaexpress" is an online store with more than 50,000 items in 40 different categories.


Today, many companies have transferred their main activities to the Internet, as this is not only a relevant but also a promising direction. When creating an online store, Taksaexpress applied a systematic approach, which made it possible to create a resource tailored to the individual needs of each client. A convenient and understandable site allows you to quickly find the products you are interested in, make a purchase easily, and a qualified support department will never leave you alone with an unresolved issue. The consumer, getting into the online store, always receives the most complete information about the product of interest to him, which at times increases the likelihood that he will become a regular consumer.


The Taksaexpress team turned to us with the task of creating a simple, user-friendly lending mechanism that will allow the buyer to get a new experience in the field of buying goods on credit or in installments. The system must meet the following requirements:
    1. Be intuitive and easily integrated into the site;
    2. It should provide the ability to customize the entire process, from the color of the calculator on the site to the addition of a new lender.
    3. Design will also be an important component since good design and layout make the customer come back and repeat the purchase.
    4. A loan calculator should provide an opportunity to calculate payments, the amount of overpayment, and the term of a loan for consumer loans for the purchase of goods and household appliances. To calculate the full cost of the loan, you need to specify the following data: purchase price, advance payment, loan term (from 1 month to 2 years). In the calculation results, you will see the amount of the overpayment, monthly payments, and the effective rate for the annuity and classic loan repayment schemes.

 

We set to work on the task at hand. Since in the modern world the “Buy on credit” button is not just a whim, but a necessity. Buying goods and services in installments increases the number of applications from the site, and hence the profit of the online store.


    How it works?
After launching the service, in the product card and shopping cart (next to the “Buy” button) the “Buy on credit” button and the loan calculator button appear. A buyer who wants to pay for a product or service in installments clicks on the button and goes to the application section. After all the data is specified, the system sends the information to the credit broker for verification. Then the buyer concludes a contract without leaving home.

 

After the delivery of the goods and the signing by the client of all the necessary documents, the lender transfers the money to the account of the online store. This is where the “store-client” relationship ends: the buyer works only with the lender, making monthly payments.

    What do you get by launching a buyer credit program?
Connecting to the system provides many advantages:
       Increasing customer loyalty. Many customers are initially set to buy on credit. This is especially true for expensive goods. This means that they will look for an online store that provides such an opportunity.

       Increase in the average check. It often happens that a client has a limited amount of money on hand. At the same time, he is ready to spend more but does not yet have such an amount. Buying on credit solves this problem.

       Sales growth. Studies conducted by lending aggregators show that the number of transactions in the first 6 months of work on loan programs increases to 43%. In some cases, this figure increases significantly.

       Growth in sales of additional products.

       More spontaneous purchases. Human psychology works here: the client cannot afford to pay a large amount at once, but paying in small installments is quite. This increases the likelihood of a deal.

       Increase in the number of repeat purchases.

       Increasing conversion on the site.

       Growth of KPI, CTR in feed, and search results. When a customer sees in the snippet that this store is selling on credit, the likelihood of clicking on the link is higher.

       Increase in the number of clients.

       Increase in revenue, profit, and turnover. Comes as a consequence of all the previous points.

 

In conclusion, we want to say that with the advent of selling on credit in the «Taksaexpress» online store was able to increase the conversion of popular goods of medium and high price categories. It can also be stated that by offering customers a customer-oriented service that provides for a full cycle of online lending with a minimum of unnecessary gestures, Taksaexpress was able to increase sales, as well as increase customer flow and profit.