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News

GE money and peach direct make luxury affordable with consumer credit program

AZDEL : 23 August, 2007  (Company News)
American consumers are upgrading their technology to high-end electronic merchandise such as big screen televisions, digital cameras, video camcorders and laptop computers. Now, GE Money and PeachDirect have made it easier to make those purchases and other luxury items affordable thanks to a new private label financing program available this month.
American consumers are upgrading their technology to high-end electronic merchandise such as big screen televisions, digital cameras, video camcorders and laptop computers. Now, GE Money and PeachDirect have made it easier to make those purchases and other luxury items affordable thanks to a new private label financing program available this month.

GE Money’s Retail Sales Finance unit today announced an agreement with direct-to-consumer retailer PeachDirect to offer a new consumer credit program called the PD Platinum Card. The new card is now available to consumers nationwide through the company’s Web site at www.peachdirect.com.

PeachDirect, headquartered in Los Angeles, sells name brand consumer electronics and luxury goods such as jewelry, fragrances, and fashion accessories direct to consumers.

“A strong consumer financing program backed by a trusted financial provider like GE will be a valuable marketing tool for us,” said Ron Drori of PeachDirect. “We already provide an easy shopping experience. Offering flexible financing options that are simple and convenient will appeal to our customers.”

Consumers in the United States have shown increasing interest in new electronic technologies, especially flat-screen televisions. According to research by the Consumer Electronics Association, nearly half of all consumers say their next TV purchase will be one of the flat-screen technologies. On average, consumers paid less than $800 for their current primary TV, while flat-screen TVs typically cost $1,000 and up.

“PeachDirect has an innovative Web site and business model, and the timing for them to introduce a new financing program is very good for their customers,” said Paul Schell, Consumer Electronics Industry leader for GE Money’s Retail Sales Finance unit. “There is a great deal of consumer spending in the electronics category. An effective financing program will help PeachDirect turn that interest into sales growth.”
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