Hitachi Capital achieves £100 million in consumer lending
The £100 million record breaking performance saw a surge in volumes in May driven by Hitachi Capital Consumer Finance boosting its retail client portfolio and a run of hot weather enticing consumers to purchase.
Hitachi Capital provides point of sale (POS) credit solutions for a wide variety of clients including B&Q, Wickes, Centrica, Beaverbrooks, and Furniture Village and recently launched in the motor finance sector, drafted in England & Yorkshire Cricketer Tim Bresnan to help them celebrate “100 not out” at their offices.
Gerald Grimes, managing director, Hitachi Capital Consumer Finance, commented: “Our £100 million record month figures show a real tangible sign of hope for the retail sector to celebrate, and with the jubilee celebrations now behind us the UK looks at Euro 2012 and the Olympic opportunity as a platform to drive incremental sales.
“Our focus is to support our retail partners to sell more and we are increasingly seeing savvy consumers take advantage of value offers and use finance to secure previously deferred home DIY makeovers in an ‘improve not move’ trend.
“Retailers such as Wickes, B&Q and CSL are increasingly working with us to develop and deliver attractive and innovative POS credit options, with the aim of maximising sales to credit worthy consumers by spreading the cost of purchases, particularly for big ticket items such as furniture, kitchens and bathrooms.”
Hitachi Capital’s existing 1,200 retailers, from national retailers such as Beaverbrooks to bespoke online retailer PC specialist, are increasingly looking to customer credit incentive options, such as interest free credit, to boost sales, as consumers sought interest free alternatives to loans and credit cards.
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