The results
With support from our dedicated account managers, Swyft was able to experience:
We were running a 12-month unregulated finance offer for customers with DivideBuy. However, due to our higher order values, this meant they were still paying a minimum of £300 a month, and we wanted to get that down to around £50 to give our customers a better deal. We were very excited when DivideBuy launched their regulated longer term offers and were one of the first merchants to get on board.
We wanted to keep interest free credit long term as our principle offer, but this meant we needed an uplift in revenue to offset the additional costs that came with this and make it profitable. In our first month of launching longer-term interest free credit, we had a 65% YoY growth in revenue through DivideBuy, which has had a considerable impact.
DivideBuy’s regulated finance journey is actually converting higher than the unregulated journey, which is exceptional. Their account management also provided us a significant amount of data, with a quick turnaround, to work out incrementality, which helped us move forward with regulated finance success.
Geoff Bull, CMO, Swyft
Who is Swyft?
Modular sofa brand Swyft started out with the belief that there was a better way to make a sofa.
The business specialises in great design that’s thoughtful, comfortable and that will last a lifetime. The ultimate ‘sofa in a box’ with 24 hour delivery, Swyft’s innovative model is taking the UK by storm. The business made the decision to offer finance to customers, both to ease the burden of spending over a thousand pounds on a debit or credit card, as well as to attract new customers and help them afford quality products.
The challenge
Swyft looked for a finance provider who could offer their customers a quality experience that aligned with its own.
It also had several requirements which needed to be fulfilled by any potential provider who wanted to partner with Swyft to offer retail finance.
The solution
Swyft partnered with DivideBuy to offer its original 3-12 month interest free finance option. Customers responded positively and uptake grew rapidly – with 87% of finance customers opting for DivideBuy’s 12 month offer.
When DivideBuy introduced its regulated longer term interest free and interest bearing credit options, Swyft became the first merchant to trial the new offers – with great success.
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What our customers say
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