It has been well noted recently that one of the healthiest areas of lending is ‘buy now pay later’ finance available in major retailers such as electrical retailer BrightHouse. People utilizing all of low or no interest deals are shopping prudently and making their hard earned money go further by paying for the cost of procely essentials such as settees and white products over a period of months. With the reduction in high-street spending, it seems that every shop is getting in on the act and offering fantastic finance deals.
But what if you didn’t have the pick of these retailers? If your credit history (or lack of), the fact you were on benefits or your age prevented you from applying for the best deals available?
You could turn to a specialist rent-to-own shop, a company that rents all kinds of goods from microwaves to digital radios with pay weekly, monthly or upfront options. A company such as BrightHouse. With over 150 shops so far, it’s the biggest such chain in the United Kingdom.
The trouble is, it’s not a wholly cheap alternative although it is a good bargain, this chain offers a very reasonable rate, although it doesn’t include extras like the optional service cover which most customers take out. ultimately, you may up paying a bit more than the cash price for the item.
With buy now pay later becoming ever more popular during the credit crunch, BrightHouse took advantage and, during the spring, ran a nine week intensive marketing campaign including TV commercials and direct marketing and employed- for the first time- TNT’s Home-in Targeting postcode modelling tool for precise targeting. It was very effective, with the chain thriving and planning on adding 20 stores during 2009.
BrightHouse head of advertising claims ‘Brand awareness of BrightHouse has grown rapidly thanks largely to our TV activity, which comprises of advertising and sponsorship of the Trisha Goddard Show. As we continue to open in new locations across the UK our highly targeted spring marketing campaign will support our growth by promoting the brand as a customer-friendly weekly payment store.’
Hand in hand with the increase in awareness however, has materialized an inevitable increase in disgruntled customers. The company recently made the headlines when it was investigated by BBC radio 1’s Newsbeat programme.