RCS lays out plans to revive Edcon’s fortunes

The new owner of Edcon’s consumer finance book, RCS, plans to launch new financial products to the retailer’s customers in a bid to boost sales and revive the fortunes of the embattled company.will analyse buying trends and habits of Edcon’s clients to tailor-make new products to the retailer’s more than 10-million loyalty cardholders.

“This is part and parcel of our core business, and it’s something we know how to assess, manage and market,” says RCS CEO Regan Adams. The company already runs consumer finance books for several national retailers, including Massmart, Pick n Pay and Cape Union Mart. “It will provide us with a large amount of data which you can analyse to see trends and habits which will allow us to better understand the customer,” says Adams.

“Besides just managing the existing book, we are looking to broaden the consumer finance offering to include cash loans and credit cards in alignment with Edcon’s financial services strategy under CEO Grant Pattison,” Adams says.

Source: News Formal (newsformal.com)

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