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American Eagle plans to offer its customers immediate purchase and subsequent payment services.
American Eagle President Chad Kessler confirmed on Wednesday to Business Insider that the retailer was looking to implement this alternative payment method as soon as possible.
"It's something our client would most likely be involved in, so we're looking forward to putting it in place," he said.
To do this, Kessler said that American Eagle would badociate with a payments provider. This could be Afterpay or Klarna, for example, which deal with transactions in similar partnerships.
With this service, buyers could buy an item and pay for it in installments. With other retailers, this is usually done four times.
Read more: Garment Industry Adopts Proven Strategy to Attract Generation Z Buyers and Millennial Money-Short Buyers
Urban Outfitters and Abercrombie already offer payment services similar to their brands. H & M will launch one of its in the fall.
The use of these services is a smart way for clothing brands to reach Generation Z and millennial buyers who probably do not have a lot of disposable income to spend on clothing.
"This helps customers who do not have room to maneuver in their discretionary income and budget," Bethany Biron of Business Insider Corey Pierson, CEO of the Custora customer intelligence platform, told Abercrombie recently. launched its own immediate payment service.
"They are not sitting on a huge amount of discretionary income where they can go to a store, lose $ 500 and not reduce it," he added.
And that also clearly benefits brands.
Indeed, customers are likely to spend more if they do not pay the lump sum in advance and they are less likely to expect discounts.
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