Despite an unprecedented holiday season, data from Afterpay found that its U.S. consumers had increased basket sizes by 30 percent from the start of October through the end of December 2020, compared to the same time in 2019.
This year, Afterpay customers also had the option of shopping with the payment solution both online and in select physical stores. Notably, more than 2 million consumers have signed up to use the Afterpay Card to shop in-store since the option launched in fall 2020. And, at the same time, as consumers shopped for the holidays online, the company saw an increase of 145 percent year-over-year in traffic referrals from its Shop Directory to its global merchant, brand partners.
“As shoppers returned to stores this holiday season, we saw a rise in services like [BOPIS] and contactless payments,” said Alex Fisher, vice president of retail at Afterpay. “Afterpay is at the forefront of these safe and seamless shopping experiences. We’re proud to be driving the adoption of both contactless payments and flexible spending in stores — meeting the demand for a true omnichannel experience for retailers and shoppers alike.”
A recent consumer survey conducted by Afterpay found that of its in-store shoppers, 32 percent had never used contactless payments prior to trying it with Afterpay.
Topping the list of Afterpay’s most purchased items over the holiday shopping season were “cozy items” including thermal knits, pajamas and socks from Old Navy, Crocs and cold-weather footwear including slippers and fleece-lined boots.
“In times of crisis, consumers seek both simplicity and familiarity, and this influences their shopping practices,” said Shakaila Forbes-Bell, consumer psychologist at Afterpay. “During a particularly challenging holiday season, it’s no surprise that shoppers turned to the ‘good old days’ and the associated fashions to bring about a positive emotional response. Nostalgia has been shown to lift our mood, give us a positive outlook, and even make us feel physically warm.”
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