Afterpay Inks Multiyear Partnership With Westfield
While online shopping experienced an exponential boom over the last year, many consumers are excited to get back to shopping in-store as more of the population is vaccinated and restrictions continue to lift. In fact, according to consumer survey findings from Afterpay, 63 percent of consumers now believe in-person shopping is a “special treat.”
Still, as reports have shown, while eager to get back in-store consumers are holding on to new consumer behaviors and expectations that developed during the pandemic. Experiencing rapid growth during 2020, flexible payment options, like buy now, pay later, is one learned benefit of online shopping that people, especially younger consumers, are looking to continue utilizing.
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“Afterpay is an ideal solution for this new era of commerce because our contactless payment solution is secure and clean, while also allowing shoppers to spend responsibly and avoid revolving debt and interest.” said Zahir Khoja, general manager of Afterpay North America. “We are thrilled to partner with Westfield, as shoppers and retailers alike celebrate the reopening of stores.”
Notably, Afterpay’s consumer survey data found that for 73 percent of shoppers the number-one reason encouraging them to go back to shopping malls is the ability to go home with purchases right away. And despite embracing online shopping during the pandemic, consumers told the company they are “eager to try on clothes, browse the aisles and shelves and use the physical shopping experience to see and feel the quality of items.”
Through the Afterpay app, consumers have already been able to select the company’s flexible payment options using the in-app Afterpay Card — which has been downloaded by almost 4.5 million people nationwide since its launch in fall 2020. Now with its new partnership with Westfield, the company aims to reach even more consumers and drive adoption of both contactless and flexible payments in stores.
Moreover, as part of the partnership between Afterpay and Westfield, both companies will invest in bringing new experiences, retail innovations and events to consumers at Westfield shopping centers. Marketing and on-site advertising will also be seen at the centers.
“Afterpay is the ideal BNPL partner for us because we share a commitment to providing seamless and effective solutions to retailers that, in turn, provide increased choice and flexibility for consumers,” said Colin Shaughnessy, executive vice president, U.S. Leasing, URW. “We look forward to working together to elevate the in-store shopping and media experience across our portfolio in the U.S.”
While the partnership currently extends exclusively to Westfield centers in the U.S., the companies have plans to take the partnership global in months to come. New brands with Westfield locations across the country have newly started to accept Afterpay including Lush Cosmetics, Aldo, The Children’s Place and The Container Store, among others.
For More WWD Business News:
Data Predicts Three Distinct Shopper Profiles of Summer 2021
Klarna Report Uncovers How Consumers Plan to Shop Post-pandemic
PayPal and BigCommerce Highlight Post-COVID-19 Consumer Behaviors in New Report
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