+28% average order value growth as Fenton shoppers choose to pay with Splitit
+28% increase in average order value
-16% cart abandonment
About Fenton
Fenton is a UK-based creator of unique, bespoke fine jewelry made with colored gemstones. Founded in 2019 by Laura Lambert, the brand pairs a modern ecommerce experience with old-fashioned, concierge-level customer care. Every piece is designed with the customer, whether they’re shopping online through Fenton’s virtual jewelry-making experience or visiting the London showroom in person.
The Challenge
Fenton’s customers are making one of the biggest purchases of their lives. The average ring costs around £2,300 ($3,166), and about 25% of shoppers ask Fenton’s concierge team about financing before they buy.
For purchases this personal, trust matters as much as price. Fenton needed a payment option that matched the transparency and service its customers expected at every other step of the buying journey, without pushing them toward debt.
“As we think about international expansion, Splitit gives us a turnkey financing solution.”
Jerome Brustlein COO, Fenton
The solution
“Unless they bought a car or a house, this will probably be the biggest ticket item they purchase in their lifetime,” says Brustlein about buying their unique bespoke rings. “So, financing ease is paramount to a lot of customers.”
Fenton chose Splitit as one of three financing options offered at checkout, going live in January 2020. Splitit’s card-linked model let Fenton offer flexible payments without becoming a credit broker or asking shoppers to apply for new credit; customers simply use the credit they’ve already earned on their existing card.
The integration was straightforward and was just as simple for shoppers: no lengthy applications, no credit checks, and no new loans. In Q2 2020, Fenton and Splitit ran a co-marketing campaign across Facebook, Instagram, Pinterest, and Google to help customers understand the benefits of paying this way.
4x Increase in Splitit usage at checkout following the co-marketing campaign
+28% Growth in average order value since launch
-16% Reduction in cart abandonment
210% Increase in merchant sales volume year-on-year
The results
“The campaign was a rushing success,” says Brustlein.
Splitit usage at checkout jumped from 3% of customers to 8 to 9%, a fourfold increase, alongside a 50% quarter-on-quarter jump in overall sales.
Fenton matched its full 2020 merchant sales volume through Splitit in under six months in 2021, a 210% increase year-on-year with six months still to go. Average order value rose 28% after launch, and cart abandonment dropped 16%.
Splitit also gave Fenton a foundation for international growth. Unlike other traditional BNPL providers, Splitit works the same way for shoppers everywhere. That flexibility helped close sales Fenton might otherwise have missed, including a £10,000 ruby purchase from a customer in Australia.
The bottom line? Customers are coming back for more jewelry. They want matching earrings and necklaces for existing rings. They want new pieces to celebrate anniversaries and other milestones. The comfort level with this new luxury brand is growing. That’s all any retailer can ask for, and Splitit is helping answer the call.
Want to find out how Splitit can help your business grow like Fenton?
Find out how Splitit’s card-linked installments can increase conversion, raise average order values, and expand your payment reach without adding any new friction at checkout.