Raft of beauty brands sign up to buy now, pay later service Clearpay's in-store service
A raft of big-name beauty brands, including MAC, Jo Malone and Le Labo, have expanded their relationship with buy now, pay later (BNPL) giant Clearpay to offer the service in-store, as well as online.
Cosmetic Company Stores, Tom Ford, Too Faced have also rolled out the pay-in-4 service to their physical retail stores, having previously offered it online.
According to Clearpay, the latest UK figures show that BNPL was used in 14% of all online purchases in March 2023, up from 12% in January 2023, indicating that consumers are increasingly preferring the flexibility of BNPL.
Clearpay says that its service not only allows brands and retailers to offer payment flexibility to customers but also provides increased brand visibility, increased conversion rates and higher average order values. Its recent bi-annual shopping event, Clearpay Day, took place at the end of April and saw growing consumer demand with a 31% increase in the number of customers referred to merchants via Clearpay’s Shop Directory.
Rich Bayer, UK Country Manager at Clearpay, said: “In March 2023 alone, Buy Now, Pay Later was used by consumers to make £1.2 billion worth of orders and we expect this number to continue to grow. Our retail partners are seeing the value that Clearpay brings to their businesses, as we help to drive more customers to them - globally we send one million customers to our merchants every day.
We’re delighted to welcome our new retailers on board and to expand our services in-store with partners who already see the benefits of Clearpay online, and we look forward to helping them grow their businesses.”
Fashion giant URBN (owner of Urban Outfitters, Anthropologie and Free People) has also recently added Clearpay to its in-store checkout.