Did you know that 86% of consumers begin their research online when starting a home improvement project?1 In fact, home improvement shoppers use technology during major purchase decisions in many areas, including checking online reviews, utilizing social media, and viewing a retailer’s website.

Home improvement projects are a carefully considered purchase, with consumers spending an average of 108 days doing research at an average of four unique retailers. The majority also consider in advance how they will pay for their project. 72% of those consumers decide on the payment method before entering the store.1

Synchrony Financial keeps a close watch on the trends of home improvement consumers. The company commissions an annual consumer study that gathers information from shoppers on their purchasing habits. In the 2016 research, the study showed that 78% of cardholders making home improvement purchases stated that they “always seek promotional financing options when making a major purchase” and 89% of cardholders feel “promotional financing makes their large purchases more affordable.” How does this potentially affect your bottom line? Research shows that cardholders reported spending $1,175 more, on average, than non-cardholders.1

When you combine the power of technology and the power of financing, you could have the building blocks for success. Innovations with this combination, like Synchrony TransactTM, accelerate financing with a simple, streamlined, and secure digital process from application to completion. Now you can easily estimate payments, review promotions, submit transactions for credit approval and funding, and more. Your records are digital so there is no need to retain paper documents and everything you need can be accessed on a desktop computer, laptop, or tablet. All of this makes for a simple and smart way to offer financing for you and a better experience for your customer.

Synchrony Transact gives you a better way to focus on your projects rather than paperwork. This online process makes financing faster, easier, and more convenient so you can help more homeowners make and finance the home improvements they want and need – while helping you close more sales and grow your business. To learn more, visit toolbox.mysynchrony.com/RemodelingMagazine.

1Fifth Annual Major Purchase Consumer Study: Home Improvement Industry. Synchrony Financial. October 2016.