July 15, 2009
Brighthouse Address the Credit Crunch
A more common thing people are current seeing is that one of the healthiest areas of lending is ‘buy now pay later’ finance available in lots of the big stores such as BrightHouse. People making use of low or no interest bargains are buying prudently and making their cash go further by spreading the cost of high-value essentials such as sofas and consumer goods over a period of time. With the downturn in peoples spending, it seems that every store is getting in on the act and offering fantastic finance deals.
But what if you not every store offered such bargains? If your credit history (or lack of), the fact you were on benefits or your age stopped you from applying for these great bargains?
You may turn to a specialist rent-to-own store, a company that rents all kinds of goods from microwaves to plasma tvs with pay weekly, monthly or upfront options. A company such as BrightHouse. With over 150 shops so far, it’s the biggest such chain in the country.
The issue is, it’s not a wholly cheap option although it is a good bargain, this chain offers a very reasonable rate, but it doesn’t include extras like the optional service cover which most customers take advantage of. In the end, you may up paying a bit more than the cash price for the item.
With buy now pay later increasing in popularity now the credit crunch has taken hold, BrightHouse took advantage and, during the summer, ran a nine week full on marketing campaign including TV adverts and direct marketing and employed- for the first time- TNT’s Home-in Targeting postcode modelling tool for precise targeting. It worked, with the chain thriving and planning on adding multiple stores during 2009.
BrightHouse head of marketing Alan Beesley said ‘Brand awareness of BrightHouse has grown rapidly thanks largely to our TV activity, which comprises of advertising and sponsorship of the Trisha Goddard Show. As we continue to open in new locations across the UK our highly targeted spring marketing campaign will support our growth by promoting the brand as a customer-friendly weekly payment store.’
Tangentially to this increase in awareness however, has come an inevitable rise in disgruntled shoppers. The company recently made the papers when it was investigated by BBC radio 1’s Newsbeat programme.