More Sustainable Trade by NetonNet Through Nets Payment Subscription

Problem: Barriers to purchase mean customers need to be enabled to rent goods

For more than 20 years, NetOnNet has supplied affordable home electronics straight from the warehouse shelf to customers in Norway and Sweden. Now they want to help their customers make more sustainable choices through the “Rental Shelf” concept, which makes it possible to rent home electronics rather than owning them.

NetOnNet has approximately 1,000 employees and an annual turnover of just over NOK 7.5 billion. Although online shopping is still the main business, today they can also boast 29 physical “warehouse shops” in Norway and Sweden. The company has now also joined forces with the Komplett group to expand its market and reach even more people. The goal has always been the same: to offer consumers home electronics at lower prices than in regular stores.

New concept ensures more sustainable trade

As part of making the business more sustainable and circular, NetOnNet has developed a subscription concept they have chosen to call “Hyreshyllan”. It means that customers can now rent home electronics, such as smartphones, tablets, smartwatches, and laptops, rather than having to buy them. 

Daniel Hansson, responsible for circular services in NetOnNet, says:

“We see that subscription solutions are increasing in popularity, and the sharing economy is really here to stay. Lunch boxes, glasses rental, and car sharing are just a few examples. A survey we have carried out shows that 38% of consumers are positive about renting home electronics. This shows that the concept certainly has great potential.”

Solution: Subscription model to make electronic purchases possible via the checkout solution

Nets’ E-commerce Report 2021  reveals that sales of home electronics have fallen sharply compared to the previous year, which points to the need for new business models. NetOnNet is constantly looking for innovative ways to offer affordable home electronics to its customers, and with the new rental concept they also ensure a more sustainable trade.

Both Norwegians and Swedes are well used to subscription payments. According to the Nets E-commerce Report, 86% of Swedish and 91% of Norwegian online retailers say that they have a subscription payment available.

Profitable, attractive and more environmentally friendly

With “Hyreshyllan”, customers can easily choose a product, use it for a selected period of time and then hand over the product when the agreement period is over.

“We wanted to develop a new concept that was profitable, attractive to customers and at the same time brought us one step closer to our goal of becoming the industry leader in the sustainable sale of home electronics,” says Hansson. He continues:

“The industry faces a challenge in terms of how we can make better use of materials and increase the lifespan of products. “Hyreshyllan” helps to solve precisely this, by selecting high-quality products that can be reused many times.”

Easy for the customer to subscribe and pay

In addition to offering quality products to its customers, NetOnNet was also concerned that it should be as easy as possible to subscribe to and pay for the service. They therefore contacted the company Viskan, which specializes in subscription solutions and in simplifying the buying journey for customers online.

“Viskan offers a scalable e-commerce platform that handles larger order volumes, increased traffic, and expansion into new markets, with automated solutions that facilitate profitable digital growth,” says Kristian Iveling, CEO of Viskan.

He says that they work hard to create the most flexible buying journey possible, with a flexible platform that recognizes the customer along the way. In order to charge customers, Viskan has helped NetOnNet implement Nets Easy, a highly flexible payment solution that makes it easy for customers to subscribe to and pay for the products.

 “Customers are increasingly concerned that it should be quick and easy to pay online. Smooth, frictionless payments are alpha and omega, and here Nets Easy is a perfect solution. It is very practical for repeated payments and cases where the customer has lost the card or the card has expired,” says Iveling.

Result: Flexible payments and easy checkout increase sales

Simple and safe trading

With the Nets Easy payment solution, customers do not have to fill in contact and payment information every time they shop, which leads to more completed purchases and higher turnover. Daniel Hansson in NetOnNet boasts of Viskan’s platform and the payment solution Nets Easy.

“We have now put in place a flexible solution that makes it easy and safe for customers to shop from our website. This was very important to us, and here we have really seen the strength of Nets Easy. It makes it incredibly easy for the customer to subscribe to the solution for the period he or she wants, where the amount is deducted automatically every month,” concludes Hansson.

contributor

Sepideh Majidzadeh
Partner and Marketing Manager,
Nets E-Commerce

I work as a partner and marketing manager in Nets with a focus on our e-commerce solutions, and have over 15 years of experience with B2B marketing within SaaS. It is important to me that our customers and followers succeed with online shopping and therefore publish blog posts and success stories related to e-commerce for inspiration, motivation and learning. Read more