1847 Goedeker Adds Two Minute Online Financing for Appliance and Furniture Customers

BALLWIN, Mo.--(BUSINESS WIRE)--1847 Goedeker Inc. (NYSE American: GOED) (“Goedeker’s” or the “Company”), a one-stop e-commerce destination for appliances, furniture, home goods, and related products, launches new third-party financing solution aimed at making consumer financing easier, quicker and more available. Consumers can now finance their purchase from any device in as little as one or two minutes without leaving the Goedeker’s website. Because this is a third-party financing platform, Goedeker’s will assume no credit risk or have any balance sheet impact.

“Our new two-minute financing solution offers consumers a speedy, seamless way to provide on the spot financing for big-ticket appliance and furniture purchases made on the goedekers.com website. It is yet another innovation in making online appliance buying through Goedeker’s the easiest and most efficient way to shop,” said Doug Moore, CEO of Goedeker’s.

The Company’s new financing capabilities are a full-funnel solution that will enable Goedeker’s to offer financing earlier in the shopping journey to boost average order value, or AOV, increase conversions, and lift sales.

Goedeker’s shoppers will be able to apply online with a few pieces of information and get a decision immediately without impacting their credit score. The process is quick, simple, and transparent and provides greater payment flexibility for shoppers. The US household appliance market is growing at a 13.7% CAGR and is expected to reach $40 billion by 2025, according to data from Statista.

About 1847 Goedeker Inc.

The Company is an industry leading e-commerce destination for appliances, furniture, and home goods. Since its founding in 1951, the Company has transformed from a local brick and mortar operation serving the St. Louis metro area to a respected nationwide omnichannel retailer that offers one-stop shopping for national and global brands. While the Company maintains its St. Louis showroom, over 90% of sales are placed through its website (www.goedekers.com). The Company provides visitors an easy to navigate the shopping experience and offers more than 185,000 items organized by category and product features. Specialization in the home category has enabled the Company to build a shopping experience and an advanced logistics infrastructure that is tailored to the unique characteristics of the market. Learn more at www.goedekers.com.

Forward Looking Statements

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