Arcadia adds payment options to make most of impulse buyers
Arcadia has expanded its partnership with payment provider Klarna to offer consumers the option to pay for their goods 30 days after delivery or spread the cost over time.
The new payment options Pay Later or Slice It are now available to shoppers across all Arcadia brands, including Topshop, Miss Selfridge and Dorothy Perkins.
The expanded partnership comes as new research reveals that millennial shoppers are more impulsive and impatient than their older counterparts. A survey carried out by Klarna showed that 20% of millennial shoppers would feel less guilty if they were offered deferred payment options, and one in five more likely to complete a purchase if they knew they could spread the cost over time.
Klarna’s Pay Later option lets consumers place an order by entering only a few personal details, and pay only for what they want to keep. Consumers get a 30 day period to try on and pay for their buys, interest-free and with no fee for the service.
Meanwhile, with Slice It, shoppers can split their payments with no interest over three months for baskets over £60.
Arcadia first partnered with Klarna to offer shoppers more flexibility when it comes to payment options in September 2016.
Luke Griffiths, Klarna’s UK General Manager, said: “We are delighted to expand our partnership with Arcadia and build on the success we have enjoyed over the past year. Together, we are giving payment choice and financial flexibility to Arcadia’s customer base, and it’s great to provide Klarna’s pioneering technology to such a wide and diverse audience.”
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