Monjuá increases sales and reduces default with Meu Crediário

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Retail chains are constantly trying to control defaults, in addition to seeking effective solutions to boost sales and reduce operational risks inherent to the business. With this in mind, Monjuá – a chain specializing in fashion and footwear – decided to implement a new credit analysis system at the beginning of 2020: Meu Crediário .

With 66 street stores in several cities in the interior of Rio Grande do Sul, the brand managed, in July, to reduce customer defaults on short-term credit installment payments (up to 30 days late) by 27%, compared to the same period in 2019.

Last month, the company also managed to exceed its sales target ios database by 15%. But how was this possible?

How did Monjuá increase sales and reduce customer defaults?
Originating from Lojas Três Passos, Monjuá has been bringing the biggest trends in the fashion world to the state of Rio Grande do Sul since 2017, working with relevant brands and also with unique and exclusive own-brand products.

The brand is now a reference in fast fashion in the state. And, currently, it has 750 employees, all with the DNA of fashion and innovation.

The results of reducing default rates achieved by Monjuá were possible, according to Felipe Bender, commercial director. This was possible thanks to the expertise of the Meu Crediário team. In addition, Monjuá itself knew how to use the full potential of the credit granting system very well.

“We reached the lowest level of 30-day delinquency for the month of July in the last five years. We are happy to have achieved this result in such a short space of time. The credit engine has been running in all the chain’s stores for only 45 days,” explains the director.

Credit analysis and customer profile reducing default
Furthermore, the executive highlights that the Meu Crediário platform provided significant optimization in the operation of the credit analysis area, providing an agile and effective overview of the customer's profile and the potential associated risks, all in a matter of seconds .

“It is undoubtedly a great source of satisfaction to record this result in the midst of the pandemic and without losing agility in stores or in sales numbers,” adds the sales director.

Bender also explains that the next challenge is to keep default indicators below the market average. “This work will certainly be ongoing and will require a great deal of effort from everyone. We are counting on the partnership with Meu Crediário to continue in the same vein,” he concludes.

According to Jeison Schneider, CEO of Meu Crediário, the success of the partnership with Monjuá increasingly qualifies the company to work alongside the country's major retail chains.

“It is also worth mentioning that the state of Rio Grande do Sul has regressed in its fight against the pandemic in the last month. Even with the lockdown and greater seclusion of people in some cities, Monjuá managed to improve its indicators. This was largely due to our credit analysis model,” says the CEO.

Want to better understand how we helped transform Monjuá's credit system and how we can help your store? Check out this super cool chat we had with them!
YouTube video
How does My Credit work?
The process at Meu Crediário is very simple and practical.

First, the user store registers the customer in the ERP. With the integration of Meu Crediário , the consumer is analyzed and the most appropriate limit for the sale is suggested through the credit score presented by the system. “With the real-time assessment, the salesperson can, for example, suggest additional purchases for low-risk customers,” explains Schneider.

Once the analysis is complete, the salesperson launches the products that the customer is purchasing, according to the determined credit limit. Meu Crediário then informs the salesperson of different installment options, indicating the options with the lowest risk. When the customer chooses the ideal number of installments, the sale is recorded in the ERP.

Furthermore, it is worth noting that the new system also collects and lists defaulting customers. “When the customer pays the debt, the CPF is automatically removed from credit bureaus, without human involvement and in a fail-safe manner,” concludes the CEO of Meu Crediário.

Your store can also achieve incredible results like Monjuá!