Zenni Optical Partners with Affirm to Deliver a More Flexible Way to Pay for Eyewear

Rhea-AI Summary

Affirm (NASDAQ: AFRM) partners with Zenni Optical to offer eligible shoppers the option to pay over time for their favorite items from Zenni's extensive selection of fashionable and high-quality prescription and protective eyewear. Approved Zenni customers can split the total cost of any purchase over $75 into monthly payments, with no hidden or late fees. Affirm never charges customers any late or hidden fees, providing a seamless pay-over-time shopping experience. On Black Friday, consumers paying with Affirm on eyewear spent nearly $260 per checkout, indicating a significant consumer demand for more flexible payment options.

Positive

• Significant consumer demand for flexible payment options
• Partnership with Zenni Optical expands Affirm's retail network to 266,000 partners
• Increase in consumer purchasing power and average order value

Negative

• None.

Glasses available in simple monthly payments, with no hidden or late fees

SAN FRANCISCO , Dec. 13, 2023 /PRNewswire/ -- Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced a partnership with Zenni Optical, the world's leading online eyewear retailer. Now, eligible shoppers can pay over time for their favorite items from Zenni's extensive selection of fashionable and high-quality prescription and protective eyewear.

After choosing eyewear from Zenni's vast collection and selecting Affirm at checkout, approved Zenni customers can split the total cost of any purchase over $75 into monthly payments. They are shown the total cost of their purchase and will never pay more than they agree to upfront. Affirm never charges customers any late or hidden fees.

"We're thrilled to partner with Affirm to provide Zenni customers another option to pay. We're constantly improving our customer experience to make purchasing on Zenni.com as simple as possible," said David Ting, Global CTO and General Manager at Zenni Optical. "Affirm was the next step in that process. We believe that everyone should have access to high-quality, affordable eyewear, and Affirm can give customers a more seamless pay-over-time shopping experience without the burden of paying in full at checkout."

"On average, consumers paying with Affirm on Black Friday spent nearly $260 per checkout on eyewear, an increase of more than 30% year-over-year. This illustrates the significant consumer demand for more flexible payment options," said Pat Suh, Affirm's SVP of Revenue. "By partnering with Zenni, we're helping eligible consumers increase their purchasing power responsibly so they can pay over time for high-quality and stylish eyewear and avoid hidden fees or compounding interest."

Zenni joins 266,000 Affirm retail partners, including Casper, DICK'S Sporting Goods, Newegg, SeatGeek, Priceline, American Airlines, and more. Offering Affirm at checkout can drive overall sales, increase average order value, and increase customer repurchase rates.

About Affirm
Affirm's mission is to deliver honest financial products that improve lives. By building a new kind of payment network — one based on trust, transparency and putting people first — we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | Twitter.

About Zenni
Zenni pioneered the online eyewear industry in 2003 with a mission to make prescription eyewear affordable and accessible to everyone. Based in the San Francisco Bay Area, Zenni offers adults and children the freedom to express their personal style through high-quality prescription and protective eyewear curated with a sense of fashion and incredible selection. To date, Zenni has worked alongside its nonprofit partners to distribute more than 1.5 million glasses. With complete prescription pairs starting at just $6.95, and averaging just over $40, the company has brought massive price disruption to the traditional retail model. With over 51 million frames sold worldwide, Zenni is proud to be the Official Eyewear of the San Francisco 49ers, Columbus Crew, Boston Celtics, and the Chicago Bulls. Zenni has worked with designers and tastemakers on curations and collections, including Keke Palmer, Iris Apfel, Cynthia Rowley, Sam Cassell, David Ortiz, and George and Claire Kittle. For more information, please visit zennioptical.com/press.

Press Contacts
Affirm
Alex Rafter
press@affirm.com
(650)398-2715

Zenni
Toni Vindel
PR Manager | Zenni Optical
toni.vindel@zennioptical.com

Payment options through Affirm are subject to eligibility, and are provided by these lending partners: affirm.com/lenders. CA residents: Loans by Affirm Loan Services, LLC are made or arranged pursuant to California Finance Lender license 60DBO-111681.

AFRM-F

View original content to download multimedia:https://www.prnewswire.com/news-releases/zenni-optical-partners-with-affirm-to-deliver-a-more-flexible-way-to-pay-for-eyewear-302014075.html

SOURCE Zenni Optical

FAQ

What is the partnership between Affirm and Zenni Optical about?

Affirm (NASDAQ: AFRM) partners with Zenni Optical to offer eligible shoppers the option to pay over time for their favorite items from Zenni's extensive selection of fashionable and high-quality prescription and protective eyewear.

What are the benefits of using Affirm at checkout on Zenni's website?

Approved Zenni customers can split the total cost of any purchase over $75 into monthly payments, with no hidden or late fees.

What is the average spending of consumers using Affirm on Black Friday for eyewear?

On Black Friday, consumers paying with Affirm on eyewear spent nearly $260 per checkout, indicating a significant consumer demand for more flexible payment options.

How many retail partners does Affirm have?

Affirm has 266,000 retail partners, including Zenni Optical, Casper, DICK'S Sporting Goods, Newegg, SeatGeek, Priceline, and American Airlines.