On the podcast, Tony Cerino, VP of sales at Katapult, discussed the company's unique “lease-to-own” approach to financing. In this conversation, we talked about what makes the Katapult model different than other payment options, the growth of ecommerce over the past eight months—and how financing programs can help retailers attract new customers in the months ahead.
“When you look at Katapult versus your traditional financing options, Katapult is for the non-prime consumer: consumers that have low or evolving credit scores. And with the way that our product works, we can service those consumers. The customers are not able to pay out of pocket for the mattress that they’re looking for, so they need an option like us to make that purchase… If you’re not working with someone like Katapult, then you’re missing out on customers that are not able to make a purchase at your store or online. And you definitely want to take advantage of that, especially as we get into the holidays and next year - you want to make sure that you’ve got everything lined up to continue to attract customers to your business.”