Mumbai: Home Town Store a home solutions retail division of Pantaloon retail was able to increase its sales turnover by providing easy consumer finance through the Future group's Future Money. Customers of Home Town store a popular outlet selling home furnishings, furniture, home improvement products and services were able to purchase big ticket items easily through the finance facilities set up inside the stores by Future Money.
Considering the average ticket size of items within the store, which is around Rs. 1 lakh, the hassle free instant consumer loans from Future Money was a key ingredient in boosting the sales volume. "People don't carry this much cash in their pockets and credit card limits were also a big drawback for customers, who wanted to make a purchase. Now they are making instant purchases through these loans," said a senior official of Home Town.
The approvals for these loans are given within 24 hours with minimal documentation requirements. As a further step to boost its business, Home Town is also setting up the facilities provided by Future Services. Future Services, the new vertical for home services, which provides wide ranging home services like laundry, settling electricity bills etc. will add another dimension to the Home Town stores. Currently, Home Town stores are located in Noida, Ahmedabad, Hyderabad, Bangalore and Pune.