OZON’s interest-free installment payment helps increase sales by more than 30%
OZON's installment payment boosts sales by over 30%
OZON Interest-free Installment Payment is a marketing tool that can only be used by local stores. According to platform data, if OZON buyers activate the interest-free installment payment function for goods, they can buy their desired products by delaying payment. This will help sellers increase sales by more than 30%.
OZON sellers can activate the installment payment function for free, and only need to pay a promotion fee of 11.11% when buyers use this function to place an order and generate sales revenue. On average, the total discount amount is 0.75% of the seller’s total revenue. At the same time, OZON will jointly bear the discount rate in the interest-free installment payment activity (out of its own pocket).
Advantages of OZON Interest-free Installment Payment
· Covers a wider consumer group with greater purchasing intention
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The platform has concluded through data analysis that buyers will place orders and complete transactions faster with the condition of OZON Interest-free Installment Payment, and the average online consumption amount is three times higher than that without installment payment. Currently, more than 800,000 buyers are using OZON Interest-free Installment Payment. Especially when buyers purchase expensive items, they can pay for the products in installments instead of all at once, which can reduce the pressure on capital turnover and make buyers more willing to buy.
· Increases store sales
Based on previous data, the sales of some products have been significantly increased after activating OZON Interest-free Installment Payment, with home appliances +34%, electronics +28%, home furnishings +20%, sports equipment +21%, household goods +19%, and clothing +18%.
· Special promotion label
When purchasing a certain product, buyers can also filter for 0-0-6 interest-free installment payment products.
OZON Interest-Free Installment Payment Working Principle
– The buyer sends an interest-free installment payment application.
– OZON approves the application and sells the goods to the buyer at the seller’s price.
– The seller pays the commission – providing the buyer with a 6-month interest-free installment payment, and the discount rate is 11.11% as the service fee for the platform. (The risk of installment repayment amount is borne by OZON or the creditor bank).
– The seller receives the full amount of the goods at once, which is the same as when the buyer places an order normally.
Requirements for Interest-Free Installment Payment Products
Except for gift certificates, jewelry, alcohol, and products over 3 million rubles, any other products can participate.
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