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Retailer Interest Rates
- Retailers often charge high credit card interest rates (15-20%) for deferred payments.
- This is despite retailers themselves having access to much lower borrowing rates (3-4%).
Flexible Payment Options
- Consider offering various payment options like splitting payments or delaying them.
- Tailor these options to the purchased product (e.g., short-term payment for consumables, longer-term for durables).
Pay Later for Sneakers
- Consumers often prepay for items like sneakers, but returns can take weeks for refunds.
- Klarna's 'pay later' lets customers inspect products before paying, addressing this issue.