How Beauty Brands Are Finding Success With Afterpay
What do millennials love as much as watching make-up how-to videos on everything from contouring to a smokey eye? Shopping for everything beauty—online. Millenials are avid online beauty shoppers. And more than half of them are shopping for all their beauty needs at least once a month.
68% Buy beauty products online once a month
72% Buy new beauty products and replenish favorites online
71% Prefer to shop for beauty products online (instead of in store)
57% Typically buys 4 items when shopping for beauty products online (vs. 1-3 in store)
The biggest names in beauty like bareMinerals, Cover FX, Kylie Cosmetics, Supergoop!, and Tarte took notice and added Afterpay services—and the addition is driving retailers’ bottom line.
Customer Growth
“With the addition of Afterpay, we’re reaching customers who may have been a little hesitant to purchase before. Now, Afterpay accounts for nearly 20% of our orders,” says Danielle Dinelli, COVER FX’s Senior Director, eCommerce + Digital Marketing.
Afterpay gives customers the flexibility to make four interest-free payments with zero interest, due every two weeks. Customers need only pay 25% of the purchase upfront, use a U.S. credit or debit card (with a U.S. address) to process the order, making the entire experience easy and hassle-free.
Shop Directory Conversion
Securing a spot in Afterpay’s shop directory has transformative effects on businesses, specifically for beauty brands. Morphe, a bold L.A. beauty brand sold exclusively online, now has access to Afterpay’s customers, which expands their reach and scope. The results? A 52+ lift in AOV and 23% share of cart with Afterpay.
Abandoned Cart Reduction
It’s no secret that customers will come back to the store if offered a hassle-free checkout experience. With Afterpay, you’re integrating a checkout experience that your beauty customers will absolutely love. It’s quick, convenient and transparent.
Checkout optimization can improve conversion by 35%
“Afterpay understands our unique business needs within the beauty industry, not just from a commerce level but also from a customer experience point of view. Afterpay’s checkout technology integrates seamlessly into our customer’s shopping journey,” says Dinelli.
Your customers already love your products. Now they want a better way to pay. Get started today.
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