2 MIN READ
How Secretlab Upped its Game (and Sales) with Buy Now, Pay Later
The Paybright Team
June 22, 2020
Secretlab began in 2014 after founders Ian and Alaric were dissatisfied with the available options for gaming chairs.
So, they embarked on a wizard’s quest to develop the ultimate chair, one that could provide maximum comfort at a reasonable cost, with superior craftsmanship, industrial design, and customer service.
And they did it. In just two years, Secretlab became the top choice for users in over 40 countries worldwide. And they made their products for accessible and affordable. Here's how.
Secretlab wanted to make chairs more affordable to their fellow gamers by offering installment payment plans at checkout, but lacked any financing options in Canada.
Partnering up with PayBright allowed Secretlab customers in Canada to be presented with PayBright as a payment option at checkout, enabling purchases to be paid for across four bi-weekly payments, interest free. Paying with PayBright takes a matter of seconds, and payments are automatically charged over time to a customer’s existing credit or debit card. Retailers get paid the next business day, and PayBright also absorbs the risk of customer non-payment.
“We love how easy PayBright is to use, with flexible plans and reasonable rates, along with a very responsive and professional team.”
- Eugene Chua, Head of Global Digital Marketing, SecretLab.
Since partnering with PayBright, Secretlab has seen tremendous results. With a dramatic 55% increase in sales, 1 out of 4 Secretlab customers now use PayBright as their payment method.
“Our initial payment options charged customers APR, which meant the uptake wasn’t as attractive,” explains Eugene Chua, Head of Global Digital Marketing, Secretlab. “After switching to PayBright’s Pay in 4 product, which offers 0% APR to customers, we saw a huge uplift of about 55% in sales, and our percentage of PayBright sales increased dramatically from 8% to 23% of sales per day.”
For marketing visibility, Secretlab features PayBright as a payment option throughout the shopping experience, providing a customer’s payment breakdown alongside the total purchase price.
“We love how easy PayBright is to use, with flexible plans and reasonable rates, along with a very responsive and professional team. Nick, our sales rep, has been an absolute pleasure to work with,” says Eugene.
This article is provided for informational purposes only. It is not an exhaustive review of this topic. The content is not financial or investment advice. No professional relationship of any kind is formed between you and PayBright. While we have obtained or compiled this information from sources we believe to be reliable, we cannot and do not guarantee its accuracy. We recommend that you consult your personal finance professional before taking any action related to this information. PayBright is a provider of Buy Now, Pay Later (BNPL) solutions. BNPL providers offer plans with a variety of terms and conditions, including interest rates, fees, and penalties, and have different standards for qualifying for loans. Laws and regulations governing BNPL providers vary by jurisdiction. We recommend that you compare and contrast plans, read the fine print, and conduct detailed research into any BNPL provider before using their services.
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