How to create an omnichannel shopping experience with Afterpay
By now, most retailers are well versed in the essentials of an omnichannel strategy.
Put simply, omnichannel entails meeting consumers where they shop and buy--whether on a traditional eCommerce site, via social media, in-person, or on other channels. A cohesive omnichannel strategy connects the proverbial dots between those channels, providing a seamless brand experience for shoppers.
As more merchants adopt omnichannel to grow their business, it’s important to keep up with the latest advancements. It’s also critical to balance industry trends with what your customers actually want. Social commerce might be an increasingly popular way for Gen Zers to shop, but if you cater mostly to the Boomer generation, you may be more successful investing in more traditional omnichannel tactics like BOPIS (buy online, pick up in store), which allow your customers to shop in ways they’re familiar and comfortable with.
One aspect of the omnichannel experience that not all retailers consider is payments: More shoppers are opting to ditch credit cards and adopt more flexible payment options that allow them to buy now, pay later (BNPL). Usage of BNPL services like Afterpay has grown 215% over the first two months of 2021 compared to the same period last year, found a report by Adobe. In addition, the report found that transactions made with BNPL are 18% larger than orders using other payment options, giving the retailers that offer BNPL a real edge.
Why? Beyond the clear consumer preference for BNPL, merchants who integrate Afterpay in their omnichannel strategies can better understand their customers, and thus build stronger connections via the other elements of their omnichannel approach.
For one, Afterpay gives retail partners a more comprehensive look at their customers’ spending habits, both in-store and online. That customer’s purchases--no matter where they’re made--are all connected to their Afterpay account. On the consumer side, shoppers can see all their purchases on the Afterpay app, as well as track and manage upcoming payments, keeping brands top-of-mind.
Afterpay retailers also get a visibility boost by being listed in the Shop Directory, which refers XXM customers per month. Recently-implemented features like the Favorites list allows shoppers to save items and brands they’re interested in to revisit when they’re ready to make a purchase. These features make Afterpay much more than just a way for customers to pay.
Ready to make Afterpay part of your omnichannel strategy? Consider the following to give your customers the flexibility to buy now, pay later.
1. Understand the potential benefits
Beyond the benefits listed above, merchants offering Afterpay report that 30% or more of their Afterpay shoppers are new to their brand. They also report a 22% increase in cart conversion, and average order value increases of up to 40%. There are operational savings, as well: Afterpay shoppers make less returns, which equals high monthly sales and less time and money spent on customer service or restocking.
2. Implement and announce
Going “live” with Afterpay is easy, and our team can help merchants get set up in minutes. Merchants may already be set up to offer Afterpay via our eCommerce and payments partners, which include Wix, Squarespace, Shopify, Stripe, Adyen, and a growing list of others. Once Afterpay is in place, it’s time to spread the word. Many merchants report increased traffic and conversions when they incorporate Afterpay messaging in their marketing.
3. Engage with our community
Through events like Afterpay Day (our bi-annual sale) and specialty campaigns like our Valentine’s Day TikTok collaboration, merchants can reach even more customers. Tapping into our growing community--now 16 million strong in the US--is a powerful opportunity to put your omnichannel strategy to work and grow your business.
Interested in learning more about how Afterpay can supercharge your omnichannel approach? Contact our team today by clicking here.
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