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Credit: How to help the customer every time

By Ken Ryan

Volume 26/Number 19; February 4/11, 2013

With statistical evidence pointing to an uptick in new home sales and residential remodel activity, it stands to reason that flooring sales would be poised for a rally as well. To help sweeten the pot for consumers, flooring dealers have been using credit as an effective tool in their overall sales strategy.

In these still-challenging economic times, retailers say credit is critical, from qualifying the customer to closing the deal. “Most people don’t have $8,000 sitting in their bank accounts to spend on flooring,” said Matt Biediger, CFO of CW Custom Flooring, Ft. Worth, Texas “Flooring is something they want to pay for over time. If we didn’t offer financing, there would be a significant reduction in our sales.” Continue reading Credit: How to help the customer every time

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Credit gives retailers a boost in sales

By Emily J. Cappiello

One of the most important ways to increase floor covering sales is credit. When the economy dipped, consumers had a hard time getting credit, but now that consumer spending has increased, credit lenders like GE Capital, TD Retail Card Services and Wells Fargo are ensuring retailers have the means to create blossoming sales.

Private-label credit cards are one way retailers offer credit to consumers. “It gives the consumer an unencumbered line of credit that doesn’t impact her ability to use her Visa/Mastercard/Amex in her daily life,” said Marc Sczesnak, president of Mahwah, N.J.-based TD Retail Card Services, the private label credit card division of TD Bank N.A. “A private label card also provides lower-cost financing and longer-term payment options than a bank card.” He added that financing plans, such as no-interest programs from six to 60 months, can help a consumer pay less in interest and obtain a manageable monthly payment that enables her to make larger purchases. Continue reading Credit gives retailers a boost in sales

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HFIA selects TD retail services 'Renovate Card' private label credit program

Mahwah, N.J.—The Home Furnishings Independents Association (HFIA) has selected TD Retail Card Services’ Renovate Card private label credit program for use by its 1,100 retail members nationwide.

Under the agreement, the Mahwah, N.J-based business unit of TD Bank, N.A., will offer participating members the full range of services, custom financing options and other special benefits associated with the Renovate Card. Created specifically for the home furnishings sector, the Renovate Card is a revolving private label consumer credit card that can be used for purchases of products or services at any merchant participating in the program. Merchants opening the individual consumer’s account can have their store’s name embossed on the card. Continue reading HFIA selects TD retail services 'Renovate Card' private label credit program

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TD launches ‘Renovate’ program for independent retailers

MAHWAH, N.J.—TD Retail Card Services has introduced the Renovate Credit Card program in the U.S. and Canada for independent retailers of flooring, furniture, lighting and other home furnishings and decor items.

Created specifically for the home furnishings sector, the Renovate Card is a revolving, private-label consumer credit card that can be used for purchases of products or services at any merchant participating in the program, noted Marc Sczesnak, TD’s president. Merchants opening the individual consumer’s account can have their store’s name embossed on the card. Continue reading TD launches ‘Renovate’ program for independent retailers