Pioniers in het consumptiekrediet tijdens de Belle Epoque : twee Belgische casussen

Subtitle:Pioneers in consumer credit during the Belle Epoque : two Belgian cases

The Brussels piano dealer Pierre-Mathieu Riesen-burger and the sewing machine salesman, from Eekloo, Auguste Gabriel, were both pioneers in using credit to facilitate the purchase of durable consumer goods. From the 1880s, when they started their business, they were willing to grant their customers consumer credit. The payment for the sewing machines could be spread over a period of one or even two years, while the significantly more expensive pianos had to be paid off within a maximum of three years. At Riesenburger, this service to help convince potential buyers was mainly aimed at the middle class. With Gabriel, the credit-system enabled him to expand his customer base, mainly to less wealthy tailors for whom the sewing machine was a production- rather than a consumer good. Both entrepreneurs were careful to use this new instrument prudently by granting it only to reliable customers with enough credit. Even before 1914, Gabriel had a harder time than Riesenburger to make his customers meet the punctual payments, but both traders showed a high tolerance for late payments. Although, by law, these goods were still their property, they very rarely demanded their piano or sewing machine back. Riesenburger and Gabriel helped to prudently pave the way in launching this financial innovation so that the installment credit could later support the development of mass consumption society.

Publication year:2020

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