The results
By partnering with Zopa to offer finance, Cocoon experienced an uplift in sales:
When we looked at partners to come on this journey with us, we did a lot of research into what people were saying about different finance providers. We were glad to partner with DivideBuy because their philosophy is very similar to ours. Our conversion rates are now higher and we’re growing 500% year on year.
Craig Rutter, Founder, Cocoon
Who is Cocoon?
Founded in 2018, Cocoon was launched from a love of the versatility of sofa beds, while identifying an issue with the typically thin mattresses usually found.
Combining a deeper pocket sprung mattress and one-touch opening mechanism, within a choice of 2–3-seater designs and corner modular sofa bed options, Cocoon now boasts the best sofa bed range to market.
The Challenge
Having accelerated growth during the pandemic due to the uptick in remote working, Cocoon continued to scale post-Covid as hybrid working became the norm. Its quality sofa beds were particularly popular with first-time home buyers, who were operating on a limited budget and wanted to make the most of their space.
Cocoon decided to support and expand its consumer base by offering point of sale finance – but there were reservations around this.
The Solution
After 4 months with DivideBuy Cocoon’s market-testing of other POS finance providers in its space showed DivideBuy was delivering a higher conversion.
There was a 73% increase in average order values, and higher conversion rates from its target demographic of buyers aged 25-35 across their eCommerce platform – with a 95% approval rate for credit.
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What our customers say
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