The new lending norms set by the National Bank of Romania have entered effect this month and already impacted upon the business of electronic and home appliance stores, which last year greatly benefited from the instalment sales. However, all is not lost, home appliance stores say, as they are trying to bring back the customers.
"A decrease in the number of customers was to be expected, given the psychological effect induced by the publication of the new lending norms. People stopped coming to the stores, even if the new regulations are not that different from the old ones," says Dan Ostahie, general manager of the Altex network.
His opinion is shared by the other market players.
"Even those people that did come to the stores were no longer as determined to get a loan as they used to be two-three months ago," says the general manager of the Domo network, Mihail Laptoiu.
Flanco general manager Marius Ghenea also grounds this situation on the much-publicised new norms. "The consumers were led to believe that no more loans would be granted after February 1 and that is why they stopped coming to the stores after that date. There have been very few buyers, and the number of visitors interested in information or products has also dropped," Ghenea says.
To fight the negative effects, which might even affect the financial results, the store chains decided that they would do anything to get the customers to come back.
Consequently, television stations are again broadcasting numerous ads for store chains such as Altex, Flanco and Domo.
Altex, which has teamed up with three banks (BCR-Romanian Commercial Bank, Banc Post and Finansbank) to secure consumer lending, says loans are available for each potential customer.
"A customer only needs to come to the store, with the same papers they needed before the new regulations, and, after the scoring, they can get an advantageous loan, either with no down payment or with no guarantor or under any solution accepted by the banks we work with," says Dan Ostahie. According to the Altex general manager, this is the first step taken by the company towards implementing a customised lending system. ionut.bonoiu@zf.ro
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
