As our in-house provider of credit solutions, this division’s key strategic objectives are to support and drive retail sales, and to sell additional products to our existing financial services customer base. They also continually review opportunities to develop other credit offerings for customers both internally and in partnership with other financial services providers. The business comprises three main areas:
Retail Credit and Warranties
Many of our customers like to spread or defer the cost of their purchases whether they are made in store, through the internet or via our contact centres. Our storecards give customers this flexibility at the same time as delivering incremental sales and generating credit and related insurance income. Our storecards are amongst the most successful retail cards in the UK. We also offer payment protection insurance to card holders as well as insurance products that cover a wide range of purchases against breakdown, theft and/or accidental damage.
Direct Services
As a Financial Services intermediary, we derive competitive advantage through knowledge of our customers and the opportunity to distribute products at low cost. Direct Services provides the analysis and insight that enables us to segment and target customers with appropriate offers. In support of our in-store and catalogue activity, the team has developed a range of communication programmes (using direct marketing and email) designed to reactivate and retain storecard users. Customer acquisition focuses around our range of cross sell insurance products (home, motor, pet and travel insurance) which are also developed and managed by the team.
Consumer Lending
Home Retail Group Financial Services has a joint venture with Barclaycard to provide an Argos credit card and unsecured personal loan products for both Homebase and Argos . This is a significant step in the development of our product portfolio and will enhance our financial services offer to our customers. Complementing our existing in-house storecards, these consumer lending products will enable us to satisfy our customers’ broader credit requirements.
Retail Credit and Warranties
Many of our customers like to spread or defer the cost of their purchases whether they are made in store, through the internet or via our contact centres. Our storecards give customers this flexibility at the same time as delivering incremental sales and generating credit and related insurance income. Our storecards are amongst the most successful retail cards in the UK. We also offer payment protection insurance to card holders as well as insurance products that cover a wide range of purchases against breakdown, theft and/or accidental damage.
Direct Services
As a Financial Services intermediary, we derive competitive advantage through knowledge of our customers and the opportunity to distribute products at low cost. Direct Services provides the analysis and insight that enables us to segment and target customers with appropriate offers. In support of our in-store and catalogue activity, the team has developed a range of communication programmes (using direct marketing and email) designed to reactivate and retain storecard users. Customer acquisition focuses around our range of cross sell insurance products (home, motor, pet and travel insurance) which are also developed and managed by the team.
Consumer Lending
Home Retail Group Financial Services has a joint venture with Barclaycard to provide an Argos credit card and unsecured personal loan products for both Homebase and Argos . This is a significant step in the development of our product portfolio and will enhance our financial services offer to our customers. Complementing our existing in-house storecards, these consumer lending products will enable us to satisfy our customers’ broader credit requirements.