Practice Management

The Flexible Financing Program Changing Our Customers’ Lives & Strengthening Our Business

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By Bill Butler
Chief Operations Officer, Eyemart Express

July 21, 2021

Your patients, like most of us, have been under significant stress during the pandemic. That stress can show up when they visit your office and learn how much it will cost, after applying their insurance, to fulfill the doctor’s treatment plan. They may want the multiple pairs of eyewear you have prescribed, but are concerned about paying for all of it at one time. That’s where Sunbit, a new payment option my company has implemented, comes into play. Sunbit technology helps our customers manage their purchases and improves their experience in our stores.

A Partner with a Proven Track Record
We selected Sunbit based on the company’s proven track record in the retail sector, which enabled us to test and launch the “buy now, pay later” (BNPL) program quickly. This financing solution is aligned with our convenience-focused service that makes the process of getting new glasses fast and easy. Our skilled on-site lab technicians can make glasses in as little as 30 minutes and our shoppers are able to get approved for BNPL in as little as 30 seconds.

Give Customers the Flexibility they Need, Especially Now
Our customers are thankful that we can offer flexible financing through Sunbit, especially in the current economy. We offer access to a three-month, no interest plan, and six-month and one-year BNPL interest-bearing plans are also available for shoppers who would like more time to make payments.

With payment options through Sunbit, our entire 2,000 frame selection and lens options, like progressives and hi-index, become even more accessible for our customers. Our customers have peace of mind that they can comfortably afford the eyewear that they and their family needs.

We are constantly focused on improving our customers’ lives by helping them see better with new glasses, and now, by relieving a potential financial burden with a flexible payment option. Given the circumstances of last year, we wanted to offer a payment solution that would make personal finances less of a barrier to our customers’ ability to see clearly.

Giving Greater Flexibility Can Drive a Higher Capture Rate
Our partnership with Sunbit has been a win-win for our stores and customers since we launched flexible financing with them earlier this year.

We believe the Sunbit launch has contributed to an increase in our capture rate since the flexible financing option provides additional value to our customers—they are able to see their dollars go further with our value-focused optical offering and flexible payment options.

Having a flexible financing solution makes it easier for our customers to get the lens treatments and upgrades that may otherwise put them at the top of their budget. Prior to using Sunbit, some customers had limited options based on the lenses they needed, but the frames they wanted were at the top end of their budget.

Boost Customer & Employee Satisfaction
The Sunbit platform is easy for our stores to use, and the ability to approve our shoppers for the flexible payment option so quickly makes for an easy and seamless shopping experience. Our associates are happy to offer this option so that our customers can see clearly with eyewear that fits their prescription and budget, and is also a style they really want.

The execution of Sunbit is smooth from an operations standpoint—all Eyemart Express opticians have completed thorough training with the Sunbit team to ensure a seamless customer experience, and Sunbit continues to provide responsive support to our stores.

Create a Competitive Advantage
We are proud to be the first national optical retailer to launch a flexible financing solution in our stores nationwide with our Sunbit partnership. We were already competitive on value in the optical space, and the flexible financing option strengthens our position.

Bill Butler is the chief operations officer of Eyemart Express, a leading national optical retailer and provider of quality prescription eyewear in as little as 30 minutes.

Loans are made by Transportation Alliance Bank, Inc., dba TAB Bank, which determines qualifications for and terms of credit.

 

 

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