Mystery shop your own finance: A four-stop check for furniture retailers before the January sale

If you work in retail, you know how important it is to be knowledgeable about every product you sell, every colour option you have and every different finish available. 

This valuable insight can help you find your customers the products they’ve always wanted, but have you ever thought about how your finance offer looks from your customers’ perspective? 

Is it as eye-catching as your window displays, or does it take the wind out of your January sales?

So, here's an idea.

We know that the build-up to the sales is an extremely busy time, but before they kick in, now is the ideal opportunity to mystery shop your own finance offering. 

To make it simple, we’ve divided the mystery shop into two parts: the first is a couple of simple checks you can do from the comfort of your desk, and the other is a visit to the shop floor when it suits you. 

For it to be effective, you'll need a colleague or friend your staff won't recognise, so find someone who understands what you’re hoping to achieve. 

One rule before you start: don't submit a real finance application. You're testing the journey, not applying for credit. This is all about discovering the journey from a typical customer perspective and the valuable insight it can provide.

Part one: Things you can do from your desk

The first stop on your mystery shop is a simple one, but it’s important as it’s probably the first place your customers visit. Your website. So, go online and choose a mid-priced sofa at random. Then check the following:

• Can you find out how to spread the cost without hunting for it?

• Is the finance wording clear?

• If there's an interest-free offer?

• Is everything a customer needs to know shown clearly alongside it?

Now choose a full room set. Does the finance on offer still make sense at that price?

• The next step is to ask your colleague to call the store and ask: 'Can I pay for a dining set over a longer period?'

• Get them to listen carefully to the response and note it down.

• Is it accurate?

• Is it confident?

• Does it match what the website says?

Part two: Things you can do in store

The next stop is the shop floor itself.

Have your mystery shopper visit and ask a member of your team about finance on a large order they’re thinking of making. What are they shown? Is it the same offer, described in the same words, or is it different?

On to the next step. Get your volunteer to ask the staff member the question most retailers never test:

'What happens if I'm declined?'

It may be a question they’ve rarely been asked, if they’ve ever been asked at all.

So, is the response clear and kind?

Does it offer a fair next step that suits the customer, or does the conversation simply come to an abrupt halt? 

Once you’ve done those steps, here’s what you may be able to identify

• Was the wording different between the website, the phone and the shop floor?

• Were staff unsure about anything beyond the main option?

• Did some finance options not seem to fit the size of some purchases?

• Was there a clear answer to the decline question?

If you have identified some issues, the objective of the test is not designed to catch anyone else out; it’s to identify areas you can improve. 

If you do flag something, it may not be about which finance products you offer.

Often, it's around the wording, a part of training that may have been overlooked or a gap in the customer journey.

Act now so you don’t pay the price in January

To make sure you’re in the best possible position once the January sales arrive, give yourself enough time to make sure any new or reworded promotions you’re planning on introducing can be reviewed and approved. By doing this as soon as possible and ensure your staff are suitably briefed and up to speed with all the changes. 

How we can help

A DIY mystery shop is a good start and highly recommended, but it's hard to see your business the way a customer does, and even harder still to identify what ‘good’ looks like.

At PPL, we carry out independent mystery shops and assurance reviews, so if your own check does turn up any issues, we can help with what comes next and get you back on track.

• If the wording didn't match across channels

• We provide financial promotion review and approval, carried out by our experienced team

• If your staff weren't sure what to say

• We offer expert, tailored training and e-learning, and we provide a record of who has completed it.

• If the decline answer fell short

• We can complete a review of your customer journey, centred on fair and suitable outcomes.

• If your finance options didn't fit your full range

• We can have a chat about your finance proposition so you can explore your options

PPL are an FCA-authorised credit broker

We can introduce retailers to lenders on our growing panel where that's appropriate. And if you'd like to offer more than your current arrangement allows, we can help you review whether your permissions and regulatory structure still fit.

Ready to take the next step?

Want an independent view?

Talk to PPL about a mystery shop or assurance review.

Get in touch