Clearpay agrees BNPL partnerships with wilko, MAC, Jo Malone, URBN and Online4Baby
Buy now pay later firm Clearpay has announced partnerships with household and garden retailer wilko, parenting specialist Online4Baby and UK online marketplace venture OnBuy.
Meanwhile, beauty brands MAC, Jo Malone, Cosmetic Company Stores, Le Labo, Tom Ford, Too Faced and URBN (owners of Urban Outfitters, Anthropologie and Free People) have expanded Clearpay’s pay-in-4 service from online to now include their in-store checkouts.
Rich Bayer, UK Country Manager at Clearpay, says: “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.”
Ben Exall, wilko Digital Director, says: “Respecting our customers’ time and hard earned cash are key drivers for any improvements to our customer experience. Working with Clearpay means we’re able to offer even more choice and easier ways to pay and we’re excited by this new partnership.”
Adobe research
UK consumers spent a total of £8 billion online in April 2023, down 1.7% from the previous month, and down 2.2% YoY, according to the Adobe Digital Economy Index.
And they have racked up £4.9 billion in buy now pay later debt for the first four months of 2023 from a total online spend of £32.6 billion. In April, BNPL usage remained high with consumers spending £1.3 billion through these services, representing 16% of total online spend.
Adobe’s analysis also revealed a 2% increase in average order values using BNPL compared with March, and an acceleration in the amount spent using these services from 20th April onwards.
For the final ten days of the month, order values using BNPL were around £8 higher on average than the period from 1st – 19th April, indicating consumers are more reliant on BNPL services in the run up to payday.
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