Wickes sign POS finance deal with Hitachi Capital

Home & DIY retailer Wickes has hired finance provider Hitachi Capital Consumer Finance, to deliver point-of-sale (POS) finance facilities across its stores.

The three-year deal is reported to be the largest Hitachi Capital has won in over eight years, and will help the retailer offer more purchasing options for its customers.

All of the retailer’s stores will provide POS finance options including ‘buy now pay later’ for larger items, and Hitachi Capital will also work with Wickes supporting bespoke financing initiatives, tailoring the retail offering and marketing campaigns accordingly to boost sales.

David Saunderson, Finance Director at Wickes, said: “We are dedicated to offering the best possible service and products to our customers.

“Hitachi Capital Consumer Finance demonstrated the highest standards in terms of security, service, systems and in-depth understanding of the retail sector.

“The partnership will help to deliver a range of purchasing options, benefiting those who are looking to improve their homes and add value to their properties, maintaining our commitment to the customer.”

Delayed payment options may prove popular in the current trading climate with big ticket sales likely to be affected by today’s VAT rise and other inflationary pressures.

Hitachi Capital secured the deal after a competitive tendering and will now work with Wickes across its 196 stores in the UK.

Gerald Grimes, Managing Director at Hitachi Capital Consumer Finance, said: “The team are excited to add another premier retail brand to our national client portfolio.

“We look forward to using our 28 years of market knowledge and strong financial position to offer bespoke financial services, marketing solutions and retail support to Wickes.

“As we start off 2011, we will be working closely with the Wickes team to drive sales in the home improvement sector.”

Source : Retail Gazette