In the modern world, credit checks can be a barrier to many essential purchases. Whether you’re looking for a new mobile phone, furniture, or even a simple catalog item, a poor credit history can stop you in your tracks. Enter Andy Perry, a Bridgnorth-based entrepreneur, who’s bringing a revolutionary idea to Wolverhampton’s retail market. His new venture, Trust Shopping, is set to fill a gap in the market for customers who struggle with poor credit, offering them a no credit check shopping experience.
Launched in the Wulfrun Centre, Trust Shopping offers a refreshing alternative to the traditional credit-based retail world, using a trust-based system to help customers get what they need, without the stress of a credit check. Andy’s approach is straightforward: if you demonstrate reliability through small upfront payments, you can get the goods you need. It’s a system designed for trust, not credit scores.
Trust Shopping: A New Approach to Retail for Poor Credit Customers
Trust Shopping was born out of frustration with the traditional credit system. Andy Perry recognised a gap in the market – a large group of people who need goods but can’t access them due to poor credit histories. He wanted to create a space where these individuals could shop with dignity, without being forced into high-interest loans or desperate situations.
- No Credit Check Shopping: Many customers with poor credit history often find themselves excluded from traditional shopping opportunities. Trust Shopping addresses this issue head-on by offering a no credit check service.
- Building Trust, Not Credit: The business model doesn’t focus on credit scores but rather on building trust between the customer and the store. Andy believes that everyone deserves a second chance, and his approach allows people to prove their reliability by making upfront payments before receiving their goods.
- Helping Customers Without Exploiting Them: A huge advantage of this model is the emphasis on fairness and transparency. By not subjecting customers to extortionate interest rates (sometimes as high as 1300-1700% with high-cost short-term lenders), Trust Shopping is offering a lifeline to those who have nowhere else to turn.
How Trust Shopping Works: A Simple, Reliable Process
Unlike traditional retail, Trust Shopping operates differently. There’s no need for a credit check, but instead, customers are asked to demonstrate their ability to make reliable payments.
- Initial Payments: Customers are required to make four upfront payments before their items are shipped. This shows the store that they can afford the items and are committed to the process.
- No Credit Check, Just Trust: The model is built on creating trust. While credit checks are bypassed, reliability becomes the key factor in securing goods.
- Flexible Payment Terms: Once the products are shipped, the remaining balance can be paid off over time. What’s more, Trust Shopping offers flexibility for late repayments, but only in exchange for clear communication from the customer. If a customer can’t meet a payment date, they are encouraged to get in touch and work out a solution.
The Problem with Traditional Credit Systems: High-Cost Lending & Loan Sharks
Many people with poor credit histories are left in a vulnerable position, with limited options when it comes to obtaining the things they need. Unfortunately, traditional high-cost short-term loans and even loan sharks can sometimes be the only alternatives. These lenders can charge excessive interest rates, pushing individuals further into debt. Here’s how Trust Shopping provides a solution:
- No Hidden Fees: Unlike traditional credit models, there are no hidden fees or high-interest loans.
- Fair and Transparent: Trust Shopping prides itself on being upfront with customers. There are no surprises, and the terms are simple and easy to understand.
- Empowering Customers: By offering a flexible, trust-based model, Trust Shopping helps empower customers to manage their finances and build trust without the fear of high fees or being locked into a debt spiral.
Real Stories of How Trust Shopping Makes a Difference
In the retail world, customers with poor credit have often been forgotten or left with few choices. Andy’s mission is to change that. He believes that everyone deserves the chance to shop with dignity, even if they’ve had financial setbacks in the past.
Here’s how Trust Shopping is already making an impact:
- Sarah from Wolverhampton: “I’ve struggled with my credit history for years. Before, I couldn’t get approved for anything. Now, thanks to Trust Shopping, I’m able to buy what I need, without the worry of being judged or excluded.”
- Tom from Bridgnorth: “I needed a new phone, but my credit score was holding me back. Andy’s system has allowed me to prove I’m trustworthy without the need for a credit check. It’s a game-changer.”
The Future of Trust Shopping: Expanding Beyond Wolverhampton
While Trust Shopping is currently based in the Wulfrun Centre in Wolverhampton, Andy has bigger plans. The success of his model is undeniable, and there are plans to expand further, offering this unique, no credit check shopping experience to more communities across the UK. With the demand for alternative lending and shopping options growing, Trust Shopping is well-positioned to cater to an underserved market.
What’s next for Trust Shopping?
- Expansion Plans: The aim is to expand into new cities, reaching more customers in need of flexible shopping solutions.
- Innovative Offerings: Andy plans to bring more product categories into the mix, expanding the range of goods available for purchase through the trust-based model.
- Creating More Opportunities: As Trust Shopping grows, Andy hopes to create more job opportunities in retail and customer service, further benefiting the local community.
Conclusion: Changing the Retail Landscape with Trust
Trust Shopping is more than just a business; it’s a movement that’s changing the way people with poor credit can shop. Through a system built on trust and reliability, Trust Shopping is providing an alternative to the traditional credit-based system, offering customers a fair shot at getting what they need without falling into debt traps.
By cutting out the need for credit checks, offering flexible repayment plans, and focusing on building relationships with customers, Trust Shopping is setting a new standard in retail.
Relevant Links for Further Reading
Photo credit: HBS Online – Harvard Business School
