SHEIN, Rains and Triarchy offer flexible spending just in time for the holiday shopping season
TORONTO and SAN FRANCISCO, Dec. 10, 2020 /CNW/ -- Afterpay (ASX:APT), the leader in "Buy Now, Pay Later" payments, today announced that it has partnered with top fashion and beauty retailers in Canada including SHEIN, Rains, Triarchy and Clarins (launching early January) - offering shoppers a more flexible way to pay for all of their last-minute holiday shopping needs, as well as prepare for the new year ahead.
At the busiest shopping time of the year, these leading brands offer the latest fashion and beauty trends - allowing shoppers to receive their items right away while paying over time, interest-free. Since the holiday season started in October, consumers are purchasing more sweaters, dresses and coats - readying their closets for the colder months and also getting into the holiday spirit with more festive items. Afterpay is also seeing a spike in jeans, with sales in November 138% higher than in September, showing that consumers are craving normalcy through their wardrobes.
In the beauty category, fragrance is at the top of consumers' shopping lists for this gift giving season. Further insight into the recent spike in fragrance purchases comes from Afterpay's Bi-Annual Fashion and Beauty Trend Report, which shows that consumers are looking for more ways to enhance their beauty routines and indulge in such self-care items for the new year.
Melissa Davis, Head of North America for Afterpay said: "Afterpay is growing rapidly in Canada, especially among Millennial and Gen Z consumers, because our service helps young shoppers budget their own money and pay over time. In doing so, our retail partners benefit by attracting new, highly engaged young consumers - helping them increase sales, basket sizes and conversion during the most important retail season of the year."
The new merchants will join Afterpay's already wide network of brands consumers love. On average, Afterpay's Shop Directory generates 19 million referrals per month globally to its merchant partners. In November 2020 during the busiest shopping month, this number rose to over 35 million. Afterpay has proven to help customer conversion rates increase by more than 20% and average order values increase by more than 25% compared to all other payment methods. Last month, Afterpay launched cross border shopping, providing its Canadian retailers access to its international network of young and engaged shoppers.
About Afterpay Limited
Afterpay Limited (ASX: APT) is transforming the way we pay by allowing customers to receive products immediately and pay for their purchases over four installments, always interest-free. The service is completely free for customers who pay on time - helping people spend responsibly without incurring interest, fees or extended debt. As at September 30, 2020 Afterpay is offered by nearly 63,000 of the world's favourite retailers, and is used by more than 11 million active customers globally.
Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, where it is known as Clearpay. Afterpay is on a mission to power an economy in which everyone wins.
SOURCE Afterpay
Samantha Bonizzi, [email protected], 201-669-9025, http://afterpay.com
Share this article