Top 5 Reasons Retail Stores Need Financing

While retailers may think they're current on the latest technology and trends, they may lack the tools needed to keep up with the fast-paced market. This includes the financing to ensure operations are running smoothly.*

Prompted by updates in payment security and shifts in the retail industry, merchants should apply for small-business loans to have enough cash on hand to fulfill their vision for new changes.

Five reasons retail owners need financing:

1. Purchase inventory

Without the right amount of inventory, the ability for retailers to be able to meet their sales targets and satisfy consumer demand is at risk. As small business owners, they often have to buy inventory before selling it to eager customers. Financing can provide them with the funds to purchase inventory without worrying about shelves that are empty for the wrong reasons.

2. Advertise through multichannels 

To be able to sell as quickly as consumers order, business owners must maintain an omnichannel approach to marketing and sales, wrote Forbes contributor J.J. Colao. Not only do retailers have to sell via their brick-and-mortar stores, they also have to push products through online and mobile shopping channels. One way small businesses can boost online sales is by using Groupon to promote sells and special introductory rates. According to research firm Forrester, mobile device commerce will account for 54 percent of all ecommerce sales in the U.S. by 2018. By giving customers more avenues to buy items, whether through buying products online or picking them up at the store, companies can improve consumer satisfaction.

3. Invest in the latest technology

With the string of data breaches in the retail industry compromising consumers' personal and financial information, improved payment security is a major priority among merchants. By October 2015, U.S. retailers are expected to adopt EMV cards, or EuroPay, MasterCard and Visa, Payments Leader reported. This technology is called chip-and-PIN cards because of the chips embedded in the card and the PINs customers must input to verify purchases.

Through the implementation of more secure payment technology, retailers will have to upgrade their current point-of-sale systems to accept these cards. Additionally, their POS terminals must also support cloud technologies operated using tablets. These devices are increasingly popular among merchants who incorporate loyalty programs and want to increase mobility on store floors.

4. Invest in an online presence or expansion

As customers become more tethered to the Internet, retailers are investing in faster and more powerful Wi-Fi connections. Through lightning speed Internet, retailers can better interact with customers as they browse through the store.

Retailers might choose to remodel to facilitate more crowds of people, making them feel comfortable and thus having them stay longer.

With financing, companies may also feel inclined to explore new formats, such as pop-up stores.

5. General working capital needs and operating costs

While retailers wait to recoup their investments; they will have to keep the store running through financing. A small-business loan can be integral to paying for operating costs, such as hiring new employees and making payroll. They could also put funds toward working capital needs, such as storefront maintenance. Since there is the risk of disasters or damage, business may use financing to replace damaged items, lost inventory, and more.


ABOUT US - ZION FINANCE LEND UP

Zion Finance - Lend Up, is an Internet-based direct-to-consumer lender. We specialize in financing and servicing personal loans, business loans, home loans, mortgage loans, debt consolidations loans, etc. for customers with less-than-perfect credit. We offer loans to interested persons at a rate of 3% per year. We offer secured and unsecured loans to individuals and companies,we also offer long and short term loans. Our firm has recorded a lot of breakthroughs in the provision of first class financial services to our clients especially in the area of Loan and capital provision for individual business and companies.

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