Partnering to introduce more South Africans to the sport.
In this case study, Taryn Henstock, Marketing Manager at Cycle Lab discusses their partnership with Float.
Who is Cycle Lab?
Cycle Lab is South Africa’s largest cycling retail chain. With an online store and large-scale, speciality stores across the country, Cycle Lab has established itself as a leader in the industry. Beyond its top-notch stores and service centres, Cycle Lab offers customers a complete lifestyle experience, including access to the Cycle Lab Active Cycling Club and a state-of-the-art Cycle park in Johannesburg.
The Challenge
Cycle Lab was looking for ways to help their customers finance their high-value purchases in the most responsible way possible. They also wanted to increase their conversions during lower volume weeks.
The Solution
Cycle Lab chose to partner with Float for the following reasons:
#1 Cycle Lab looked for a partner with longer instalment periods. Float was the only Buy Now, Pay Later platform in South Africa that offered interest-free monthly instalment plans.
#2 By nature, bicycles come at a wide range of price points. Partnering with Float was a no-brainer because Float has no cap on the order values processed through the platform.
#3 With an online store, 6 physical stores and service centres requiring custom invoicing, Float’s omni-channel payment solution was the perfect fit as it allowed them to seamlessly process payments across all sales channels.
The Results
Since first partnering with Float in 2023, Cycle Lab has seen marked results both online and in-store. Orders processed through Float in-store are on average 754% bigger than regular orders. Offering Float also provided Cycle Lab access to an audience of 5M+ South African credit card holders.
Are you a merchant? Interested to hear how you, too, can lift your business with Float? Discover other Float merchant success stories: MiFitness, The Pro Shop and fill out our merchant application form here: https://lnkd.in/djgKU46e or reach out to our expert team at grow@float.co.za, today.