Splitit has an instant impact on GemsNY’s business
average order value
Can you tell us about your company GemsNY?
GemsNY is an online diamond and jewelry retailer with one brick and mortar shop located in New York City. We are also wholesalers, which means that we own our entire inventory of gems – all certified at the best prices.
2020 was a busy year for us. We dove head first into making our website cleaner and easier to use while adding many new features. We also offer lifetime warranties and guarantees for our customers’ benefit, including free shipping and easy returns for a truly risk free shopping experience.
Tell us about your search for an installment payment solution, and why you chose Splitit?
Often, shoppers are seeking a pay over time option for higher priced items, like jewelry. We used to offer in-house financing, but wanted to shift to a third party solution so we could refocus that time on selling gems.
We began our search by looking at traditional financing companies, and were actually in the process of signing with one of these companies, when we came across Splitit. The Splitit solution checked all our requirements, especially supporting our high average order values (AOV).
Splitit was an ideal option right from the start that resonates very well with our customers. With Splitit, they can pay using their existing credit card over 12 months, there is never any interest or additional fees, and they do not have to go through a lengthy application process. Implementing Splitit was a breeze and took less than a week to get up and running.
How has Splitit helped you grow your business?
With Splitit, we have seen definitive growth in our business. When we compare our data to the previous year, we have seen a 25% increase in our average order value (AOV), a 16% increase in conversion rate, and a 45% increase in sales. We believe these numbers will continue to grow over time with our continued partnership.
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