The Powertool Shed

One of the most commonly observed things recently is that one of the most popular genres of lending is ‘buy now pay later’ finance available on the high street such as BrightHouse Electricals. People making use of low or no interest bargains are buying prudently and making their hard earned money go further by paying for the cost of procely essentials such as couches and consumer goods over a period of time. With the reduction in peoples spending, it seems that every shop is getting in on the act and offering tempting finance deals.

But what if you didn’t have the choice of finance deals? If your credit rating (or lack of), the fact you were on government handouts or your age stopped you from applying for these great bargains?

You may turn to a specialist rent-to-own company, a company that rents all sorts of goods from microwaves to plasma tvs with pay weekly, monthly or upfront options. A company such as BrightHouse. With more than 170 retailers so far, it’s the biggest such chain in the country.

The problem is, it’s not exactly a cheap alternative although it is a great bargain, this chain offers a very reasonable rate, however it doesn’t include other things like the optional service cover which most customers take advantage of. ultimately, you may up paying a bit more than the cash price for the item.
With buy now pay later becoming ever more popular during the credit crunch, BrightHouse took advantage and, during the summer, ran an eight-week intensive marketing campaign including TV commercials and direct marketing and employed- for the first time- TNT’s Home-in Targeting postcode modelling tool for precise targeting. It was very effective, with the store thriving and planning on adding 20 stores during 2009.

BrightHouse head of marketing Alan Beesley claims ‘Brand awareness of BrightHouse has grown rapidly thanks largely to our TV activity, which comprises of advertising and sponsorship of the Trisha Goddard Show. As we continue to open in new locations across the UK our highly targeted spring marketing campaign will support our growth by promoting the brand as a customer-friendly weekly payment store.’
Hand in hand with the increase in awareness however, has come an inevitable rise in disgruntled shoppers. The company recently made the headlines when it was investigated by BBC radio 1’s Newsbeat programme.