By Katapult on Jul 24, 2023 12:30:00 PM
SimpleTire, a leading tire replacement supplier, found success when they joined forces with Katapult to offer a lease-to-own (LTO) solution to their valued customers.
By integrating Katapult into their checkout process, SimpleTire witnessed remarkable results. The introduction of this flexible payment option led to an impressive 18% increase in Average Order Value (AOV). Not only did this translate to higher revenue for the retailer, but it also resulted in a substantial 80bps+ increase in gross profit, indicating the profitability of the LTO solution.
Moreover, SimpleTire experienced a remarkable 6%+ increase in Units Per Order (UPO) when compared to other payment options available to customers. This surge in UPO demonstrates the effectiveness of the lease-to-own option in enticing customers to purchase multiple units, driving up sales and ultimately boosting the company's bottom line.
If you're interested in learning more about the remarkable success that SimpleTire achieved through their partnership with Katapult, download our case study today.