hoolah | Growing TTRacing’s new customer base of debit-preferred young consumers

Category: Gaming

Challenge

Since the pandemic, according to Gartner[i], 88% of the organizations worldwide have made it mandatory or encouraged their employees to work from home. With the ‘new normal’ here to stay, the interest in ergonomic seating is at an unprecedented level. An ergonomic home computing workstation no longer appeals to only gamers or luxurious home owners; it is now an essential for today’s users to enhance work productivity in the comfort of their own home.

Founded in 2016 by Henry Ting, TTRacing is a Malaysia-based gaming chair company with a mission to empower users with higher efficiency and performance through long hours of sitting comfort. They dedicate themselves to creating stylish and comfortable gaming chairs for everyone who spends hours in front of the computer.

While gaming chairs are seen as high-end and expensive, consumers spend more time reaching a purchase decision to a gaming chair. TTRacing’s key business challenge was to convince customers reaching a purchase decision, and at the same time retain the customer’s interest in its products. Helping TTRacing to remove the high-ticket conversion barrier and price resistance has presented a unique opportunity for hoolah.

[i] “Gartner HR Survey Reveals 88% of Organizations Have Encouraged or Required Employees to Work From Home Due to Coronavirus”

TT Racing Duo — Duo Gaming chair by TTRacing

Approach

Customers can choose to use credit or debit cards for payment processing when making the three-month interest-free repayment. hoolah is one of the first payment solutions in the region where a debit card can be used as a repayment method.

Partnering with hoolah has helped TTRacing’s customers buy the gaming chair they need now for their work from home setup and pay later easily. hoolah’s ‘Buy Now Pay Later’ (BNPL) solution helps customers split their payment over three months at zero interest, so they can manage their monthly budgets easily, without having to worry about the lump sum payment upfront.

Coupled with a user-friendly checkout interface with transparent and clear repayment instructions, it is much easier for customers to manage their expenses ahead. By catering to a group that favours debit as their preferred payment option and providing a seamless digital experience, hoolah has successfully become very popular within TTRacing’s younger customer base.

Impact

Since the partnership in October 2020, TTRacing has seen a huge boost in conversion by several folds, with a basket size increase of 30%. With 75% of TTRacing purchases via hoolah made using debit cards, hoolah’s flexible payment method has empowered a younger group of customers – a demographic that is traditionally not qualified for credit cards – that TTRacing was unable to tap into previously.

Henry and his team were able to grow a new customer base of loyal customers, lowering cost of acquisition significantly and achieving greater return on investment.

Customer feedback has been positive as they are able to use the product first by paying a fraction of the total cost, resulting in overall increased customer satisfaction.
Henry Ting, CEO & Founder of TT Racing

These increased sales have allowed TTRacing’s ambitious plans to further expand its premium line of gaming chair products and stay focused in product research and development.