How WhatsApp can transform Retail Credit Granting

[olivia25]

45 million people and 820 billion reais per year! Do you know what they represent? 1 in 3 Brazilians does not have a bank account, and yet this portion moves significant amounts of money into the economy. According to a survey conducted by the Locomotiva Institute , for every 10 unbanked Brazilians, 6 have no intention of opening an account and half do not trust financial institutions.

In this context, retail has been positioning itself as a armenia telemarketing list strong precursor to the democratization of credit in Brazil, through the so-called store cards. Companies that adopt private label (used only at the issuing establishment) or co-branded (allowing purchases at other establishments accredited by the brand established on the card) in their strategies have a powerful ally in customer loyalty, because in addition to strengthening the brand, it grants credit to a portion of the population that seeks financial alternatives not linked to banks. The math is simple:

It seems like a piece of cake, doesn't it? But granting credit involves many challenges, such as the quality of data used in credit management, default projections, and different levels of financial vulnerability among customers. In other words, efficient risk planning is essential to protect the organization's financial health.

Talking about granting credit in the retail sector has always been a difficult and complex topic. With the exception of the pharmaceutical and food sectors, most retail segments, during Covid-19, either completely suspended any granting of credit or tightened their belts, adopting stricter policies.

However, with the retail sector gradually recovering in the second half of the year, the topic of credit is once again being discussed. After all, despite the fear of default, it is necessary to replenish the customer base and expand sales. Risk is inherent in financial transactions, but viewing credit as a driver of the economy will make a difference for companies that want to get ahead. However, now the rules of the game have changed, economic conditions, people's desires and the way they interact are no longer the same, and technology is undoubtedly one of the drivers of the retail sector's turnaround.

In short, the card granting process follows two important phases:

However, social isolation has changed some consumer behaviors and, even with stores reopening, fear and caution in contact remain latent. This is what a survey by the Locomotiva Institute on the behavior of Brazilians after the quarantine indicates:

[yadaysrdone]

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