Teen apparel retailer enables online customers to pay a little slower
Rue21 is offering a payment card alternative to digital shoppers.
The teen fashion retailer is rolling out an online payment solution from Klarna that allows customers to pay for purchases with four equal payments collected bi-weekly. Customers pay no interest or fees.
According to data from Klarna, Gen Z shoppers aged 16-24, purchase clothes and accessories an average of 18 times per year, with nearly a quarter (23%) of them admitting to shopping online one to three times per month. Millennials are shown to shop online 14 times per year. Rue21 said its customers have been requesting an installment payment option for online purchases besides debit and credit cards.
“Rue21 provides our customers with great on-trend fashion at amazing value that our customers love and want to buy more of,” said Michael C. Appel, Rue21 CEO. “We have been investing in state-of-the-art technology that allows us to identify and deliver the fashion they want, and technology that allows them to buy what they want where and when they want it. This investment in Klarna’s technology provides a value-added service to our customers because it allows them to pay for their fashion in installments, which we expect will drive increased sales with our target demographic.”
Rue21 is not the only specialty apparel retailer targeting a young adult demographic that is turning to Klarna to enable online installment payments. Abercrombie & Fitch is deploying the Klarna Pay Later solution for digital shoppers in the U.S. and U.K. later this year. Customers will be able to pay for online purchases after delivery in three installments in the U.S. and four in the U.K., respectively, over a two-month time period.
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