World News – AU – Afterpay Basket Size Up 30% On Vacation 2020

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For a holiday season like no other, cozy items from Old Navy, Crocs, and more on American shopping lists

SAN FRANCISCO, Jan. . Apr. 4, 2021 / PRNewswire / – Afterpay (ASX: APT), the leading provider of « Buy Now, Pay Later, » payments today announced consumer shopping trends for the Holiday 2020 shopping season, Jan.. Published October through December 2020. Based on this data, consumers expanded their gift lists and bought more items compared to the previous year. Average shopping cart size for Afterpay customers in the US increased 30% compared to the 2020 and 2019 holiday seasons. Traffic with Afterpay’s branded partners was also strong as the company saw a 145% increase in referrals to global merchants from its store directory compared to last year.

Old Navy thermal knitwear, pajamas and socks topped Afterpay’s list of top-selling items this season. Crocs, right after their # TrapBack TikTok challenge launched last fall in partnership with Afterpay, were also a favorite – as shoppers opted for the gift of convenience. In the colder winter months, fleece-lined boots and slippers also proved popular purchases.

Shakaila Forbes-Bell, Afterpay-based consumer psychologist, said, « In times of crisis, consumers seek both simplicity and familiarity and this affects their shopping practices. During one particularly challenging holiday season, it’s no surprise that shoppers turned to the « good old days » and associated fashions to evoke a positive emotional response. It has been shown that nostalgia lifts our spirits, gives us a positive outlook, and even makes us physically warm. « 

Customers have had the opportunity to use Afterpay to shop both online and in physical stores for the holidays as the list of merchants in store grew over the season. By partnering with Afterpay in-store, retailers have been able to leverage Afterpay’s dedicated customers to grow their sales. Customer demand for Afterpay’s in-store solution continues to grow rapidly. Since the offer went into operation in autumn 2020, more than two million customers have set up the Afterpay card for personal shopping.

Alex Fisher, vice president of retail at Afterpay, said, « As shoppers returned to stores this holiday season, we saw an increase in services such as online purchase, in-store pickup (BOPIS) and contactless payments. Afterpay is at the forefront of these secure and seamless shopping experiences. According to a recent survey of Afterpay customers in the store, 32% of customers had never used contactless payments before trying Afterpay. We pride ourselves on driving the adoption of both contactless payments and flexible spending in stores – to meet the demand for a true omnichannel experience for retailers and shoppers alike. « 

Afterpay hit new milestones in November 2020 during the peak of Christmas shopping. US monthly sales exceeded ANZ for the first time, reflecting the increasing contribution of the company’s fastest growing and largest region. The total number of customers who have signed up for Afterpay in the US now exceeds 13 million, and the total number of global retail partners is nearly 64. 000. A strong pipeline of new dealers is preparing to launch in 2021.

About Afterpay LimitedAfterpay Limited (ASX: APT) is changing the way we pay by letting customers receive products instantly and pay for their purchases in four installments, always interest-free. The service is completely free for customers who pay on time. This enables people to spend money responsibly without incurring interest, fees, or increased debt. For the 30th. September 2020, Afterpay will be almost 64. 000 of the world’s most popular retailers, and over 11 million customers have completed transactions worldwide in the past 12 months.

Afterpay is currently available in Australia, Canada, New Zealand, the US, and the UK where it is known as Clearpay. Afterpay’s mission is to fuel an economy where everyone wins.

ASX, Afterpay, share price, S&P / ASX 200, ASX: APT, Börse, Zip Co Limited, share

World News – AU – The size of the Afterpay basket increased over the course of the Year by 30% public holiday 2020
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Ref: https://www.prnewswire.com

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