Nordstrom joins Top Merchants offering Australia's Afterpay

Over the past decade, economic uncertainty has shifted financial behaviour among Gen Z and Millennials, as these younger consumers become increasingly credit averse - favouring debit over credit card use. Because Afterpay allows shoppers to use their own money and pay over time, it has become a preferred way to pay, with spending up 230 per cent since 2020.2 As these younger generations mature and their spending power grows, merchant partners can tap into the Afterpay’s core demographic of highly-engaged, young consumers. Brands can also benefit from additional exposure through Afterpay’s Shopping App, which refers more than one million shoppers per day to their online and physical stores, the company said in a press release.

“We are constantly evolving to enhance the customer experience both in-store and online at Nordstrom and Nordstrom Rack. This includes offering flexible payment options to meet customer needs. We have heard from our customers that buy now, pay later programs resonate with them and are excited to partner with Afterpay to make these options available to them,” Dennis Bauer president of payments and credit at Nordstrom said in a statement.

“With inflation at a 40-year high, it's more important than ever that consumers have access to a flexible payment option for the things they need and want in their life. Afterpay allows consumers to safely shop and pay in a responsible way, while also allowing brands to reach highly engaged shoppers who often become repeat customers,” Zahir Khoja, general manager of North America at Afterpay said.

Fibre2Fashion News Desk (GK)