November 12th 2024.
IKEA has recently announced their decision to offer afterpay as a payment option in their stores, joining the growing trend of retailers embracing the "Buy now, pay later" strategy. As the cost of living continues to rise, the company hopes that this move will attract customers and alleviate some of the financial strain on families during the holiday season.
According to data from Afterpay, a significant 41% of people are planning to use buy now pay later platforms to purchase at least half of their Christmas gifts this year. This shows a growing trend in the popularity of this payment method. In light of this, IKEA believes that offering afterpay will create a more convenient shopping experience for their customers.
Daniela Altiparmakova, Deputy Digital Manager at IKEA Australia, expressed their excitement about this new payment option, stating that affordability has become increasingly important to their customers. With afterpay, they can now provide even more flexible ways for customers to purchase their dream home furnishings.
This payment method will be available at all ten of IKEA's stores across the country, as well as online. It is expected to be a popular option, especially with the increasing demand for afterpay in the home and garden category. Last Christmas alone, Australians spent a whopping $5 billion on purchases made with afterpay, with popular stores like Bunnings contributing to this growth.
Katrina Konstas, EVP and Country Manager at Afterpay, shared some interesting statistics about the rise of afterpay in the home and garden category. In the past five years, there has been a staggering 127% increase in afterpay sales in this category. This further supports IKEA's decision to offer afterpay as a payment option.
In September, Afterpay also introduced a self-regulated spending cap for Australian users. This gives customers the freedom to set their own limit on spending through afterpay, providing a sense of control over their finances. It is worth noting that as of September 2024, the average debt owed by Australians to afterpay was $964.
Overall, it is evident that afterpay has become a popular and convenient payment option for many Australians, especially during the holiday season. IKEA's decision to jump on board with this trend shows their commitment to providing a seamless and affordable shopping experience for their customers.
[This article has been trending online recently and has been generated with AI. Your feed is customized.]
[Generative AI is experimental.]
