ThinkSmart Announces Retail Affiliate Program, New Products

20 Oct ThinkSmart Announces Retail Affiliate Program, New Products

Announces Retail Affiliate Program

Launches ThinkSmart Marketplace For Retailers

New Products For Fast Growing Tablet Market

ThinkSmart Limited today announced the launch of a number of new strategic initiatives consistent with its growth plans outlined at the half year results in August.

These include the launch of:

• The Retail Affiliate Program which will enable thousands of retailers to access ThinkSmart’s products via an online approval process – significantly increasing its addressable market in the $6 billion Australian technology market from 30% to 80%;
• The ThinkSmart Marketplace. The platform for expansion into new products and categories which will provide an online product and payment service available to a broad range of multichannel retailers; and
• Two new innovative products for the fast growing tablet market in Australia and the UK.

“The launch of the Retail Affiliate Program and the ThinkSmart Marketplace are the first of a range of initiatives underway to leverage our best in class patented QuickSmart technology and significantly expand our addressable market to drive growth in the business over the next three years and beyond” said ThinkSmart Executive Chairman and CEO, Ned Montarello.

“Plans are well progressed to introduce new products suitable for other retail categories like homewares, sports equipment and jewellery,” added Mr Montarello. “While our industry leading online credit approval takes just a few minutes, the introduction of e-signature technology will make us capable of 100% online execution over the next few months. This will further our competitive advantage as multichannel retailing continues to grow.”

Launch of Retail Affiliate Program and ThinkSmart Marketplace

“The Retail Affiliate Program will enable thousands of retailers to access ThinkSmart products through a quick and convenient online approval process. It will also provide access to more retailers for our pre-approved customers which already represent more than 30% of our new business,” said Mr Montarello. “Currently in the $6 billion Australian technology market we have access to 30% of the market through our relationship with retailers like JB Hi-Fi, Dick Smith and Officeworks. The Retail Affiliate Program will give ThinkSmart access to some 80% of that market. But it’s not just about expanding our addressable market in the technology space, we now have the ability to grow in other categories too.”

The ThinkSmart Marketplace is the platform for expansion into new products and categories and will provide an online product and payment service to a broad range of multichannel retailers, initially in Australia with the UK to follow in the New Year. The ThinkSmart Marketplace is available at http://www.thinksmartmarketplace.com.au.

Launch of financing product for tablets in Australia and the UK

ThinkSmart has also launched two new innovative financing products in Australia and the UK specifically tailored to the fast growing tablet market.

“The new products we have launched in the tablet market are a great example of us leveraging our QuickSmart online application system into a fast growing niche market. The tablet market in Australia has doubled in the last quarter alone and tablets globally are now expected to reach 17.5%* of PC shipments in 2011, compared to just 5% in 2010,” said Mr Montarello.

ThinkSmart has launched “iSMART – the smarter way to pay” in Australia. iSMART is a consumer financing product for tablets available in leading retailers such as JB Hi-Fi and Dick Smith that includes accidental damage and theft cover, remote support, a loaner tablet, no lemon guarantee and 25% cash back on upgrading at end of term.

“Our research has shown that customers are looking for value-added services when accessing fast growing tablet technology,” said Mr Montarello. “We’ve included services like remote support and cash back on upgrade and partnered with leading providers to deliver a product to the market that represents great value to customers. This will position us well to be a leading provider of financing in this fast growing category.”

Earlier this month, ThinkSmart launched its new Infinity for Tablets proposition in the UK through its long-term partner Dixons Retail Plc, the UK’s largest consumer electrical retailer.  Early adoption has been very encouraging and this provides an opportunity for additional expansion of the Infinity product set.

*source IDC