Every retailer is putting its best effort to provide the best to its consumers in these tough times.
And Macy’s, the renowned American fashion retailer, has entered into a 5-year partnership with Swedish investment firm Klarna, which will help shoppers pay in 4 interest-free installments.
In a statement released to media, it is stated Macy’s, Inc. has become an investor in Klarna. However, the investment amount hasn’t been disclosed as yet.
While announcing the partnership with Klarna, Macy’s also yesterday (6 October) revealed its partnership with DoorDash for same delivery via the retailer’s 500 stores across the nation – importantly with no minimum orders.
Interest-free installments and same delivery service are what every customer is looking for today especially at a time when the pandemic seems to be in no mood to leave anyone. Macy’s partnerships, therefore, hold relevance.
Expressing delight over the alliance, Matt Baer, Chief Digital Officer, Macy’s, said that the partnership with Klarna will enable Macy’s reach a wider audience looking for seamless alternative payment solutions that will help them provide financial control and convenience.
Buy now, pay later is gaining lot popularity among shoppers – especially the youth. In fact according to the Pew Research Center, half of the oldest Gen Zers (18 to 23 years) said that pandemic had led to job loss or pay cuts for them or one of their family members, which is much higher than millennials (40 per cent) or those belonging to Gen X (36 per cent).
The partnership between Macy’s and Klarna is being eagerly awaited by the youngsters.
Klarna, notably, has 200,000 retail partners globally and handles US $ 35 billion in online sales.
