Afterpay Day Goes Omni Channel with First In-Store and Online Shopping Sale

Rhea-AI Summary

Afterpay (ASX:APT) announces its fifth bi-annual Afterpay Day, now including brick-and-mortar shopping for the first time, running from March 25-28, 2021. Merchants from nearly 3,000 retailers will offer discounts of up to 70%. Last event led to a 36% sales increase and a 46% rise in new customers for participants. A new 'Favorites' feature in the Afterpay app allows users to save desired items, utilized by 40% of US app users. This event aims to enhance customer engagement as retailers reopen for spring.

Positive

• Afterpay's fifth Afterpay Day will include physical retail for the first time, expanding customer reach.
• Event running for four days, allowing extended shopping opportunities.
• Merchants saw a 36% average sales increase during the last Afterpay Day.
• New 'Favorites' feature has been adopted by nearly 40% of US app users, enhancing shopping experience.

Negative

• None.

SAN FRANCISCO, March 17, 2021 /PRNewswire/ -- Afterpay (ASX:APT) the leader in "Buy Now, Pay Later," today announced that its fifth bi-annual Afterpay Day will include brick-and-mortar shopping for the first time and run for an extended four-day period, from March 25-28, 2021. Afterpay Day has historically been the biggest driver of sales for merchants across the country, with deals and promotions from nearly three thousand fashion, beauty and lifestyle retailers and brands.

Customers can take advantage of up to 70% off from the best retailers across the country, and manage their payments in four installments without incurring interest.¹ A number of new brands partnering with Afterpay in-store will be participating in this season's sales event, offering promotions across e-commerce and their physical locations, including Steve Madden, MAC Cosmetics, Jo Malone London, Aveda, origins, Vera Bradley and more.

A variety of the participating merchants will be offering exclusive promotions that are only offered to Afterpay customers. Customers can use the Afterpay Shop Directory to unlock special deals from SHEIN, Anthropologie, J Crew, Gilt, Rue La La, PUMA, Tarte Cosmetics, Kiehl's, and more.

During the last Afterpay Day, merchant partners saw average sales grow by 36%, with the average number of new customers growing by 46%.² In December 2020 alone, 45 million customer referrals were sent to retailers globally from the Afterpay Shop Directory.³

Afterpay Favorites
Afterpay customers will also be able to utilize the newly launched "Favorites" feature this Afterpay Day. Located within the Afterpay app, shoppers can browse their most-wanted items and add them to their Favorites to revisit at a later date - making planning and budgeting for the sale even easier. Launched earlier this year, the "Favorites" feature has already been used by nearly 40% of US app users.⁴

Melissa Davis, Head of North America at Afterpay said: "This season's Afterpay Day is bigger and better than ever. We have extended our sale to physical retail, doubled the number of sale days and, most importantly, we have more than doubled the amount of merchants who are offering incredible deals and promotions to their shoppers. We are proud to deliver this incredibly popular event just as retailers welcome their customers back to their stores for Spring shopping."

Consumers can visit the Shop Directory on the Afterpay app and Afterpay.com to access these promotions and discounts from thousands of participating merchants. Afterpay's app also allows customers to locate participating store locations near them. The sales begin at 12:00am PST on Thursday, March 25, 2021 and run for four days ending at 11:59 pm PST on Sunday, March 28, 2021.

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 or fees when you pay on time.⁵ As of December 31, 2020, Afterpay is offered by nearly 75,000 of the world's favourite retailers, and is used by more than 13 million active customers globally.⁶  

Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, France, Italy and Spain, where it is known as Clearpay.  Afterpay is on a mission to power an economy in which everyone wins.

¹ Late fees may apply. Eligibility criteria apply. See afterpay.com for full terms.
² Source: Afterpay data, August 2020
³ Source: Afterpay data, December 2020
⁴ Source: Afterpay data, March 2021
⁵  Late fees may apply. Eligibility criteria apply. See afterpay.com for full terms.
⁶ Source: Afterpay data, December 2020

 

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SOURCE Afterpay

FAQ

What is Afterpay Day 2021?

Afterpay Day 2021 is a sales event running from March 25-28, allowing customers to shop both online and in physical stores with discounts up to 70%.

How many retailers participate in Afterpay Day?

Nearly 3,000 retailers are participating in Afterpay Day, offering significant deals and promotions.

What were the sales results from the last Afterpay Day?

During the last Afterpay Day, merchants experienced a 36% increase in sales and a 46% growth in new customers.

When does Afterpay Day 2021 start and end?

Afterpay Day 2021 starts at 12:00 AM PST on March 25 and ends at 11:59 PM PST on March 28.

What features does the Afterpay app offer for customers?

The Afterpay app features a 'Favorites' option to save items for future reference, enhancing the shopping experience.