Brighthouse Finds a New Way to Operate
One of the most commonly observed things recently is that one of the most popular genres of lending is ‘buy now pay later’ finance available in lots of the big stores such as BrightHouse Electricals. People making use of low or no interest deals are spending their money prudently and making their cash go further by distributing the cost of procely essentials such as settees and white products over a period of months. With the downturn in peoples spending, it seems that every retailer is getting in on the act and offering fantastic finance deals.
But what if you didn’t have the choice of finance deals? If your credit history (or lack of), the fact you were on benefits or your age prevented you from applying for the best deals available?
You may turn to a dedicated rent-to-own retailer, a company that rents all sorts of goods from microwaves to digital radios 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 United Kingdom.
The issue is, it’s not a wholly cheap option although it is a good deal, this chain offers a very reasonable rate, however it doesn’t include other things like the optional service cover which most customers take out. In the end, you may up paying a bit more than the cash price for the item.
With buy now pay later becoming ever more popular during the credit crunch, BrightHouse saw the opportunity and, during the summer, ran an eight-week intensive advertising campaign including TV commercials and direct marketing and employed- for the first time- TNT’s Home-in Targeting postcode modelling tool for precise targeting. It was very effective, with the chain thriving and planning on adding multiple stores during 2009.
BrightHouse head of advertising claims ‘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.’
With such an increase in awareness however, has materialized an inevitable increase in disgruntled shoppers. The company recently made the headlines when it was investigated by BBC radio 1’s Newsbeat programme.
