Whirlpool India has planned to enter retail financial services and has partnered with Videocon’s Next Retail for giving easy and flexible credit to consumers.
Sukhpreet Singh, general manager, brand marketing, Whirlpool, said, “The consumer will benefit as we are bearing the interest cost for providing the loan along with retailer. With this arrangement, we expect to garner a 10 per cent counter share across the Next outlets as the retailer is a key account for us.”
Currently, Next Retail has 334 outlets and its exclusive tie-up with Whirlpool of India will ensure additional share for the brand at its outlets.
“The fact that a home appliance manufacturer is taking on the interest burden of the consumer is a new concept in the market and with this we will be providing a better value proposition to our customers,” informed Singh.