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Afterpay Day Drives 35% Growth in New Customers¹
Friday, April 2, 2021
Company's app holds the top spot for BNPL payments²
SAN FRANCISCO, April 1, 2021 /PRNewswire/ -- Afterpay (ASX:APT), the leader in "Buy Now, Pay Later" (BNPL) payments, today released results and consumer shopping trends for its bi-annual Afterpay Day sale - its first ever to include brick-and-mortar shopping.
The U.S. sale drove a 35% increase in new active customer to the platform(3). Traffic to Afterpay's brand partners was also strong - as the company sent nearly six million referrals(4) to global merchants from its Shop Directory during the sale's duration, with approximately 30% of referrals(5) going to SMB partners.
Crocs, Nike sneakers, Fenty Beauty, Ulta Beauty and UGG topped Afterpay's list of most purchased items. And most Americans used their mobile phone to make those purchases. 86% of U.S. Afterpay Day transactions occurred on mobile devices(6), with an average of four items(7) in the shopping basket. Afterpay is currently the top-ranked BNPL app in the app store based on number of downloads.
91% of American shoppers used their debit card to make their purchases(8) - preferring to use their own money to pay over time. Los Angeles was the top city for Afterpay shoppers followed by Chicago, Brooklyn, Houston and Philadelphia(9).
Afterpay Day included deals and promotions from more than 3,000 of the best retailers and brands across North America, with sales up to 70% off full priced items(10). A number of new brands partnered with Afterpay in-store as well as online for the first time ever - including Steve Madden, MAC Cosmetics, Jo Malone London, Aveda, origins, Vera Bradley and more.
"Afterpay Day was the perfect way to support our merchant partners as retailers welcomed their customers back to their physical stores and the economy starts to rebound," said Melissa Davis, Afterpay's Head of North America. "As evidenced by the numbers, Afterpay Day delivered new customers, drove increased sales and increased basket sizes online and in-store for the more than 3,000 participating merchants in North America."
The total number of customers that have signed up to Afterpay in the U.S. now exceeds 16 million, and the total number of global retail partners is nearly 75,000, with a strong pipeline of new merchants continuing to launch in 2021. During December 2020 , Afterpay referred more than 40 million customers to its merchant partners via its Shop Directory(11).
About Afterpay Limited
Afterpay Limited (ASX: APT) is transforming the way we pay by allowing customers to receive products immediately and pay for their purchases over four installments, always interest-free. The service is completely free for customers who pay on time - helping people spend responsibly without incurring interest or fees when you pay on time.(12) As of December 31, 2020, Afterpay is offered by nearly 75,000 of the world's favourite retailers, and is used by more than 13 million active customers globally.(13)
Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, France, Italy and Spain, where it is known as Clearpay. Afterpay is on a mission to power an economy in which everyone wins.
(1) Figures based on internal Afterpay data
(2) Ranking based on PYMNTS.com app rankings
(3) Figures compare to Afterpay Day, August 2020
(4) Figures based on internal Afterpay data
(5) Figures based on internal Afterpay data
(6) Figures based on internal Afterpay data
(7) Figures based on internal Afterpay data
(8) Figures based on internal Afterpay data
(9) Figures based on internal Afterpay data
(10) Figures based on internal Afterpay data
(11) Figures released in 1H 2021 results
(12) Late fees may apply. Eligibility criteria apply. See afterpay.com for full terms.
(13) Source: Afterpay data, December 2020
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SOURCE Afterpay
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