Clearpay partners with leading fashion brands

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Clearpay has announced partnerships with fashion and beauty brands Sweaty Betty, Feelunique and Ghost.  

Additional new retailers also include Mainline Menswear, Hawes & Curtis and DIY brand FFX. 

In joining the Buy Now Pay Later (BNPL) company, these brands have the opportunity to take part in Clearpay Day, a bi-annual shopping event offering deals and promotions. 

The most recent event resulted in a 39 per cent uplift in sales and a 42 per cent increase in new customers.  

READ MORE: BNPL subject to government regulation by the end of October, insiders warn

Clearpay research also revealed that millennials account for the majority of BNPL transactions, with spending among this group now one per cent above pre-covid levels. 

This trend was consistent across Clearpay day, with 51 per cent of transactions undertaken by this demographic. 

“We’re delighted to welcome our new merchants to Clearpay, who now have access to our large and growing number of engaged customers, and can enjoy increased conversion rates, incremental sales that are higher than other payment methods and lower return rates,” Clearpay UK country manager Rich Bayer said. 

“When looking at the sector as a whole, BNPL spend has grown by 260 per cent since January 2020, compared to stagnation for credit cards.

“With customers increasingly turning to a 3payment method like Clearpay that enables them to spend responsibly, initiatives such as Clearpay Day enable a win-win, as our merchants boost sales, while our customers enjoy great savings on purchases with their favourite brands.”

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