3 MONTH PAYMENT ASSISTANCE PROGRAM

3 MONTH PAYMENT ASSISTANCE PROGRAM

BUSINESS

Major Furniture Retailer with Annual Revenue of $400 Million

Promotion:

3 Month Payment Assistance


Elite Rewards – Supported Initiative

  • Provided a Mastercard Program that was dynamic. The Retailer could designate any dollar amount to be given back to the consumer in Mastercard Reward Cards
  • Elite helped with the creative for the program allowing each retailer to customize the program on their own

Situation

Covid-19 presented an excessive slow down in this retailer’s business. With the combined effort of the retailer, Elite Rewards and their store credit card finance company were able to build a program where the customer would get back Mastercard Reward Cards equivalent to the first three months of payments. As a third-party provider, Elite Rewards was able to provide the retailer with a program that was vetted out by their legal and financial teams. A minimum purchase of $1499 was required for the credit provider’s minimum payment policy. Additionally, Elite Rewards provided fulfillment of this program that was compliant with the credit card provider’s payment terms.

Solution

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Results

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Revenue from the program generated for 60 days was $1,300,000
Average sales per showroom was $42,000
Average ticket was $4025
Average cost for Gift-with-Purchase 4.25%

From The Client

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Jonathan Simpson
H.R. Frank Exclusive American Club