Americans plan to spend less on fashion in Autumn: survey
September 14, 2018 - United States Of America
Affirm, the US firm founded by entrepreneur Max Levchin to provide fair alternatives to traditional credit, recently launched the ‘Shop with Affirm’ fall fashion campaign, while releasing findings of a survey on how Americans plan to shop and pay for apparel purchases this Autumn. The campaign aims at making great brands accessible to more customers.
Beginning September, Affirm will feature collaborating fashion and apparel brands across Instagram and its website, showing consumers where they can buy now and pay for purchases over time with Affirm.
Many fashion brands now allow customers to use Affirm to buy items with no interest, repaid in three easy monthly installments.
The campaign offers a transparent payment option that better aligns with shoppers’ cash flows and helps them budget for fall purchases, according to a press release from the company.
Affirm partners include Pat McGrath, Paul Evans, Swatch, Unique Vintage, White + Warren, Tamara Mellon, Tradesy, Longines, GOAT, Flight Club, Jomashop, Good American and John Hardy.
Affirm’s survey of over 2,000 Americans found that while Americans want to keep up with new trends, they’re planning to be more mindful of their spending this fall.
Seventy seven per cent of Americans are planning to purchase clothing, shoes or accessories this fall, with just over half (53 per cent) of them saying they plan to stock up on ‘everyday’ apparel items, the survey revealed.
However, 25 per cent of shoppers are planning to spend less this year than in previous years because they are prioritizing savings and earned less this year. Over half of shoppers plan to spend $300 or less and 58 per cent are planning to shop when they can take advantage of special promotions and sales.
Fifty one per cent still prefer to visit brick-and-mortar stores compared to 20 per cent who plan to shop online. While 62 per cent said it is important the product they purchase is sustainable and 77 per cent will pay more for sustainable items, 74 per cent said it is important the product is ethically made and the same number will pay more for these products.
Seventy per cent of shoppers are avoiding credit cards at checkout and they are not consumers with lower income levels or credits scores. (DS)