In today’s retail environment, consumer expectations are higher than ever. Shoppers want flexibility, affordability, and convenience—and they expect retailers to provide it. For appliance and furniture retailers, offering consumer finance options has become not only a competitive advantage but also a core driver of sales growth and customer loyalty.
Making High-Ticket Purchases Attainable
Appliances and furniture are often among the largest discretionary purchases a household will make. While many consumers want to invest in quality, not every customer has the cash on hand to pay upfront. Financing breaks down these larger expenses into manageable monthly payments, making premium items attainable without straining household budgets.
A recent Synchrony study found that nearly half of consumers seek financing as a direct response to rising prices, and 66% say financing makes larger purchases more affordable (Synchrony, 2023). With inflation squeezing household budgets, flexible payment options have become more of a necessity than a luxury.
Driving Higher Average Transaction Values
When financing is offered, customers often feel more comfortable choosing upgrades or higher-end models. Instead of focusing solely on the upfront price, they can evaluate purchases based on the monthly payment.
The impact can be significant. For example, one retailer using BuyFin reported a 61% increase in average ticket size after introducing financing (BuyFin, 2023). Similarly, Jerome’s Furniture achieved a 67% increase in financing adoption by expanding point-of-sale financing options (ChargeAfter Case Study). For appliance and furniture retailers, this translates directly into greater revenue per transaction without necessarily increasing traffic.
Enhancing the Customer Experience
Today’s shoppers value options and flexibility. Offering financing demonstrates that a retailer understands consumer needs and is willing to work with them to find solutions. This builds trust and goodwill, creating a more positive customer experience.
It also aligns with how people manage other major purchases—cars, smartphones, even streaming bundles. By integrating financing into the sales process, retailers meet customers where they are financially. According to PYMNTS, applications for promotional financing in furniture purchases grew 10% year-over-year and approvals rose nearly 26% year-over-year (PYMNTS, 2023), showing that customers are actively choosing retailers who make financing seamless.
Improving Customer Loyalty and Repeat Business
Customers who finance a purchase are more likely to return to the same retailer in the future. Many financing programs include revolving credit lines, which give customers an incentive to come back when they need additional items.
At a time when competition is fierce, financing is also a key differentiator. A survey by ChargeAfter found that 78% of merchants view point-of-sale financing as a strategic priority in the next year (Furniture Today / ChargeAfter Survey, 2023). This means that financing is no longer an optional feature—it’s becoming a standard expectation. Retailers who fail to offer it risk losing long-term customer loyalty to competitors who do.
Reducing Abandoned Sales
One of the leading causes of abandoned sales in appliance and furniture retail is price-related hesitation. Financing directly addresses this barrier. Instead of a customer leaving the store to “think about it,” sales associates can present financing as an immediate solution to affordability concerns.
Synchrony reports that 5% more consumers are financing purchases of $500 or more today compared to just two years ago (Synchrony, 2023), indicating a steady cultural shift toward acceptance of credit-based purchasing. The message is clear: more customers are ready to finance than ever before, but only if retailers provide the option.
Conclusion
Consumer finance options are not simply about deferring payments—they are about creating opportunities. For appliance and furniture retailers, financing expands access to high-quality products, drives larger sales, improves the customer experience, and builds lasting loyalty.
In fact, the data shows financing can increase transaction sizes by more than 60%, adoption rates by 67%, and make purchases feasible for most customers who might otherwise walk away. Retailers who embrace financing position themselves as customer-centric, competitive, and forward-thinking. In an industry where purchases are significant and infrequent, consumer finance ensures that affordability is never the barrier between a customer and their ideal home.
