Financial credits as a sales strategy
The high outlay of money that implies for any person to acquire a sofa, has forced the department stores of exhibition and sale to generate strategies to obtain clients that acquire a sofa, either by updating the ones they have or to acquire one by the first time. Among those strategies, we find the credit.
A few decades ago there were street vendors who went house to house offering their wares. It was an ideal sales strategy since the client did not have to leave his house to purchase products. Among the goods offered by these merchants were household appliances, kitchen utensils, sheets, bedspreads, and furniture, among which we can mention the sofa.
These street vendors, confident that they had the location where the client resided geographically, dared to leave the sofas they offered so that the clients could pay them in an agreed amount of installments. They passed weekly, biweekly or monthly depending on the agreement and the customer to pay was registered in a document that the seller had, signing the buyer as a sign of acceptance.
This sales methodology lasted several decades but unfortunately many of those vendors failed because having no legal support to cover these credits, customers had no obligation to pay and scam these sellers staying with the sofa without paying the agreed amount. In short, it became a bad credit in sofas that bankrupted many merchants and furniture manufacturers.
Over the years, globalization led to the birth of large chains of manufacturing and marketing of sofas that impelled them to build warehouses for exhibition and sales, which generated a change in the way of selling. They stopped going from house to house and began designing advertising strategies so that shoppers could visit the display and sales stands of sofas and make their purchases directly in their facilities.
Because the sofa is a high-cost product, the sales volumes were not as expected as the customers’ purchasing capacity was not high enough. This forced marketers to make strategic alliances with banking institutions so that, through their legal units, they could design the necessary legal framework to establish client – banking units – trade agreements, in which the three parties would obtain their benefits. Merchants can sell the estimated number of sofas, commercial banks generate capital through the interest generated as a result of the loans made to the client and that customers obtain the sofa of their dreams without immediately affecting their capital.
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