1847 Goedeker Adds Two Minute Online Financing for Appliance and Furniture Customers
September 22 2020 - 6:45AM
Business Wire
1847 Goedeker Inc. (NYSE American: GOED) (“Goedeker’s” or the
“Company”), a one-stop e-commerce destination for appliances,
furniture, home goods, and related products, launches new
third-party financing solution aimed at making consumer financing
easier, quicker and more available. Consumers can now finance their
purchase from any device in as little as one or two minutes without
leaving the Goedeker’s website. Because this is a third-party
financing platform, Goedeker’s will assume no credit risk or have
any balance sheet impact.
“Our new two-minute financing solution offers consumers a
speedy, seamless way to provide on the spot financing for
big-ticket appliance and furniture purchases made on the
goedekers.com website. It is yet another innovation in making
online appliance buying through Goedeker’s the easiest and most
efficient way to shop,” said Doug Moore, CEO of Goedeker’s.
The Company’s new financing capabilities are a full-funnel
solution that will enable Goedeker’s to offer financing earlier in
the shopping journey to boost average order value, or AOV, increase
conversions, and lift sales.
Goedeker’s shoppers will be able to apply online with a few
pieces of information and get a decision immediately without
impacting their credit score. The process is quick, simple, and
transparent and provides greater payment flexibility for shoppers.
The US household appliance market is growing at a 13.7% CAGR and is
expected to reach $40 billion by 2025, according to data from
Statista.
About 1847 Goedeker Inc.
The Company is an industry leading e-commerce destination for
appliances, furniture, and home goods. Since its founding in 1951,
the Company has transformed from a local brick and mortar operation
serving the St. Louis metro area to a respected nationwide
omnichannel retailer that offers one-stop shopping for national and
global brands. While the Company maintains its St. Louis showroom,
over 90% of sales are placed through its website (www.goedekers.com). The Company provides visitors
an easy to navigate the shopping experience and offers more than
185,000 items organized by category and product features.
Specialization in the home category has enabled the Company to
build a shopping experience and an advanced logistics
infrastructure that is tailored to the unique characteristics of
the market. Learn more at www.goedekers.com.
Forward Looking Statements
This press release contains “forward-looking statements” that
are subject to substantial risks and uncertainties. All statements,
other than statements of historical fact, contained in this press
release are forward-looking statements. Forward-looking statements
contained in this press release may be identified by the use of
words such as “anticipate,” “believe,” “contemplate,” “could,”
“estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,”
“potential,” “predict,” “project,” “target,” “aim,” “should,”
"will” “would,” or the negative of these words or other similar
expressions, although not all forward-looking statements contain
these words. Forward-looking statements are based on the Company’s
current expectations and are subject to inherent uncertainties,
risks and assumptions that are difficult to predict. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. These and other
risks and uncertainties are described more fully in the section
titled “Risk Factors” in the final prospectus related to the public
offering filed with the Securities and Exchange Commission and
other reports filed with the Securities and Exchange Commission
thereafter. Forward-looking statements contained in this
announcement are made as of this date, and the Company undertakes
no duty to update such information except as required under
applicable law.
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Dave Gentry, CEO RedChip Companies Office: 1.800.RED.CHIP
(733.2447) Cell: 407.491.4498 dave@redchip.com
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