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Afterpay (ASX: APT) has expanded its in-store payment solution to major retailers like Nordstrom and J.Crew ahead of the holiday season. This offering allows customers to pay in four interest-free installments, catering to a trend where over 25% of consumers plan to shop in-store early due to supply chain concerns. Additionally, Afterpay's partnership with Westfield will feature an AR scavenger hunt to engage shoppers. With almost 6 million users adopting the Afterpay Card, the service is becoming increasingly popular, driving $459 million in savings for its users compared to traditional credit cards.
On November 1, 2021, Afterpay announced November 19 as 'Done Day,' encouraging early holiday shopping to avoid credit card debt, especially as many millennials anticipate financial strain post-holidays. A recent survey revealed that 45% of consumers began shopping early, driven by concerns over overspending and shipping delays. Additionally, Afterpay will introduce its 'Six Weeks of Gifting Better' sweepstakes, offering $500 prizes weekly and a grand prize of $10,000. In 2021, Afterpay generated $4.5 billion in net benefits for merchants, with customers saving up to $459 million in credit card fees.
BrainTrust has launched the Founders Studio, a community platform for Black beauty and wellness founders, led by Kendra Bracken-Ferguson. This initiative aims to address the funding gap faced by Black entrepreneurs, which sees 90% lacking investment opportunities. With over
Redbubble Limited (ADR:RDBBY) has partnered with Afterpay to enhance customer payment options. Customers can now use Afterpay's service to pay in four interest-free installments, aiming to improve the shopping experience on Redbubble and TeePublic. This feature launched in the US in September and is now available in Canada, the UK, and Australia, just in time for the holiday season. Redbubble, founded in 2006, focuses on supporting independent artists by allowing them to sell their designs on various products.
Bonsai and Afterpay have partnered to enhance online shopping by integrating Buy Now, Pay Later services directly within publisher sites. This collaboration aims to streamline the purchasing process, reducing checkout clicks by 4-5 on average. The first publisher to join is BuzzFeed, allowing its readers to purchase products without leaving the content page. This integration offers a new revenue model for publishers, with Bonsai providing higher commission rates compared to traditional affiliate links.
New research by Accenture reveals that in 2021, Afterpay (ASX:APT) generated $4.5 billion in net benefits for merchants, with $8.2 billion in incremental sales tied to improved online shopping experiences. The report highlights that Afterpay's services helped customers save $459 million in credit card fees and interest, translating to $6 per order. Additionally, Afterpay contributed to the creation of approximately 70,000 jobs in the U.S. economy and is linked to increased customer engagement and repeat purchases.
Afterpay (ASX: APT) has partnered with Fashion Nova to enhance the shopping experience by allowing customers to pay in four interest-free installments. This collaboration aims to attract Gen Z and Millennials, representing Afterpay's non-debt payment model. Afterpay's North American user base has grown to nearly 20 million, with 90% being repeat customers. The partnership is timely, aligning with the upcoming fall shopping season, which is expected to boost traffic and sales through Afterpay's extensive network of almost 100,000 global retailers.
PetSmart has announced a partnership with Afterpay, enabling customers to utilize a "Buy Now, Pay Later" payment option in-store and online. This allows shoppers to make purchases in four interest-free installments, enhancing affordability while shopping for pet products and services. PetSmart aims to cater to the rising demographic of pet owners, particularly among Millennials, who are increasingly seeking flexible payment solutions. This initiative aligns with PetSmart's strategy to ease financial stress for new pet owners and further expands its omnichannel retail offerings.
Afterpay (ASX: APT) has announced its final calendar for New York Fashion Week (NYFW), showcasing unique 'See Now, Buy Now' events that allow consumers to purchase items in real-time. Key events include a two-day immersive experience in Times Square featuring exclusive drops from Crocs and JD Sports, as well as a pop-up retail destination from September 8-25. Notably, Afterpay will host a panel discussion with industry leaders and present fashion shows allowing customers to shop directly. The NYFW lineup aims to enhance consumer engagement and promote local businesses.
