BrandSource partner Kafene corrects some common misconceptions
By Emma Rose Kantor, Kafene
With Black Friday upon us and Christmas around the corner, it’s never too late to make sure your financing options are set up to help customers confidently make big purchases.
Many customers are looking to create a cozy, inviting home for family gatherings — whether that’s upgrading to a new dining room table or finding the perfect sectional for holiday lounging — and the right point-of-sale partner can make all the difference in closing that sale.
Related: Kafene Brings LTO Options to BrandSource Members
To help make the holidays merry and bright for you and your customers, we’re busting some common myths about lease-to-own (LTO) programs that might impact how your shoppers view these options.
Myth #1
LTO is Only for Customers with No Other Options
While lease-to-own is often associated with customers without traditional credit access, today’s options appeal to a much wider audience. Kafene has taken lease-to-own services and given them an innovative, AI-driven reboot. By pioneering a tiered approach that offers each customer the best pricing possible based on their profile — an LTO first — customers across the credit spectrum can now look to lease-to-own options to help them invest in quality furniture.
Myth #2
LTO Slows Down Checkout
A common concern is that offering lease-to-own programs might slow down your sales process. The truth is, with the right provider, it doesn’t have to. Kafene’s platform integrates directly at the point of sale, making it easy for associates and customers alike. Its 60-second application is reportedly the fastest in the industry, giving your customers instant approvals up to $5,000. That means higher conversion rates, higher average order values (AOVs) and access to customer sales that would otherwise be lost — all without missing a beat.
Myth #3
All LTO Providers are Alike
There’s a world of difference between providers, and choosing the right one can impact both your sales numbers and your store’s reputation. Kafene, for instance, focuses on a consumer-centric approach that prioritizes flexibility, transparency and accessibility. It’s also said to be the only LTO provider that reports all payment information to all three consumer reporting agencies, potentially building credit history. By choosing a provider that aligns with your store’s values, you can build trust and satisfaction and bring customers back again and again.
We hope this myth-busting session has given you some fresh perspectives on lease-to-own programs and how they can support your store’s success this holiday season. To learn more, reach out to our Enterprise Sales Director Belinda Kelton at belinda@kafene.com or visit Kafene.com.
Emma Rose Kantor is vice president, operations, for BrandSource partner Kafene, a point-of-sale leasing platform that helps retailers offer underserved customers more flexible purchase options through lease-to-own (LTO) agreements.
