Since its big release in January of this year, IDD’s IDDeal Credit Card Program is “already generating impressive results and quickly establishing itself as the must-have consumer finance program for retailers,” said IDD president Alok Mehta. “With the overwhelming amount of positive feedback, it’s clear that there is a new front-runner in the consumer finance game.”
What makes this credit card program so successful? IDD says it is a combination of design efficiency, multi-lender integration, Millennial buyer appeal, and unique marketing strategies that all work toward a common goal – more closed sales. “To put it simply, it’s about working smarter, not harder,” says Mehta.
Innovative in its function and design, the IDDeal Credit Card employs a fully integrated 3-tier, multi-lending system to improve financing availability, particularly to uncreditworthy consumers. And, more lending options translate into a higher percentage of approved applicants and an even higher success rate to close more sales for retailers.
Mehta says it didn’t take long for retailers to see results and start sharing the great news throughout the industry, and “having an effective consumer finance solution like the IDDeal Credit Card is an essential component to retail businesses.”
Brent Garcia from Garcia and Company Jewelers located in Farmington, New Mexico said, “We have seen nearly a 30% increase in approvals and a 50% higher average open to buy compared to our previous financing provider!”
And now IDD has added one more crucial objective for the retailer – free marketing strategies that get consumer attention and increase foot traffic. With that goal in mind, IDD has released uniquely crafted marketing promotions that combine the power of the financing payment plans and the superior value of IDD’s diamond basic programs. “The result was a marketing match-made-in-heaven,” says Mehta.
Developed using a concept that is both versatile and customizable, IDD’s IDDeal Credit Card promotional materials center on the idea of connecting the store’s merchandise to the financing payment plans in a way that is attention getting to the consumer and “too irresistible to pass up.” The most popular of the promotions features a 1ct. solitaire ring for only $100 a month using the IDDeal Credit Card; a particularly appealing offer to Millennial shoppers on a budget.
A major advantage of the marketing comes in the flexibility of the promotion, which allows the retailer to modify or update the promotion based on their needs or the time of year. For example, this promotional idea also works well with larger diamond studs, single-line diamond bracelets, bridal sets, hoop earrings, Valentine’s Day, Mother’s Day, and more.
Joel Wiland from J. David Jewelers in Broken Arrow, Oklahoma said: “After only a few weeks, the IDDeal Credit Card is quickly becoming a major part of our business. I would recommend it to any retailer that wants to grow their business, and, more importantly, stay relevant in this ever changing market.”
The market is shifting towards a new kind of shopper; a generation more comfortable with online browsing and e-commerce sales. And, with store websites being a necessity for retailers today, the IDDeal Credit Card recently released online applications for consumers located directly on the retailer websites. Consumers can apply for the IDDeal Credit Card on the store website, get approved, and start shopping.
The IDDeal Credit Card offers numerous retailer and consumer benefits including generous credit limits, no recourse for the retailers, no fees, no equipment to purchase, multiple consumer payment plans, promotional and holiday rates, and a fast and easy application process.
To become an IDDeal Credit Card Retailer or learn more about this program, visit the IDD website at www.IDDjewelry.com or call 800-621-1162 and speak to an IDD representative.