Retailers which are not offering point-of-sale finance, both in store and online, are at risk of losing 44% of potential customers, with jewellery, healthcare and electrical products being most affected, according to new research from Hitachi Capital Consumer Finance. Over one quarter of people (26%) who used credit 2015 in the last year said they would have gone to another retailer if they didn’t have the option to ‘buy now, pay later’, while 18% said they would have thought twice about buying the product. Only 33% would have bought the product the same day using cash or a credit card. With cost-conscious consumers looking for easier ways to pay off big purchases over a longer period, the availability of finance is having a significant impact on people’s spending behaviour. Over eight in 10 of customers (83%) said that the fact the retailer offered finance heavily influenced their decision to purchase, while 50% said it played ‘a very important’ role. This is felt more acutely in some retail sectors more than others. Jewellery for example would lose 40% of customers if they couldn’t offer finance, healthcare 36% and electrical 28%. Gerald Grimes, Managing Director, Hitachi Capital Consumer Finance, said: “The future of retail is no longer just about having great products and a powerful brand, it’s about the ability to offer flexible financing options, seamlessly across all sales channels, 24/7. “There’s a direct correlation between offering point of sale credit and increased sales, this can be up to 80 per cent, and demonstrates that used tactically, the availability of different finance options can transform retail business, enhance bottom-line profitability and increase brand value.” Last year Hitachi Capital signed a deal with Amazon to offer new pay monthly options on orders of more than £400. The UK is the first country in the world where Amazon has offered instalment loans, though shoppers in the US can buy on credit using an Amazon store card. Hitachi Capital provides over £1 billion of consumer lending each year to customers of some of the UK’s biggest high street names, including John Lewis, B&Q, DFS and Beaverbrooks.