Mobile Payments Challenger Afterpay Brings Back Afterpay Day
It’s hard to believe on just about every front, but August is right around half-done. We’re midway through the third quarter and, though the weather is still hot and summery out, the year is nearly coming to a close. As families worldwide gear up for back to school shopping in one form or another—some have even already done it—Afterpay dropped word our way about an event that may just help.
It’s called Afterpay Day, and it’s the second such event to launch. Meant as a biannual two-day sale run in conjunction with the retailers that accept Afterpay—just over 6,500 in the US at last report—Afterpay Day is an event that offers up discounts and promotions to give shoppers a little extra value at a time they may be needing it most.
Featuring such names as Steve Madden, Tarte Cosmetics, APL and more, the event is set to run August 14-15, offering up special deals and discounts measuring in the hundreds. The first U.S. sale ran back in March 2019, where shoppers could choose from just over 400 partners participating. Said partners were glad they did, too, as sales volume went up 110 percent of normal in that two-day period, and some saw better than 300 percent increases in sales volume.
It’s a great idea, drawing attention to Afterpay, especially in a fashion that demonstrates big boosts in sales. After all, if a product can be shown to increase sales, that makes selling that product to retailers in turn that much easier a task. With retail hard-pressed on all sides, including a declining shopping environment and the ever-present threat of Amazon, any advantage is an advantage worth at least considering if not outright pursuing. Afterpay looks to provide just such an advantage by letting shoppers have what they want, and then make payments over the course of a few months. That means less sticker shock for retail locations and more incentive to buy.
It seems to be working well, but Afterpay needs to make some more common connections if it wants to go fully mainstream. It needs a Target or a Walmart in its corner rather than specialty shops, and the closer it can get to the common user, the better off it will be.