Digital Forum: Why Companies Should Work to Build Trust With the Biggest Shopping Generation

“No one says I love how I paid for that, but people say they love Afterpay,” said Nick Molnar, global chief revenue officer and cofounder of Australian buy-now, pay-later company. In just over a year in the U.S. market, the company has already partnered with more than 6,500 retailers and helped over 1.5 million shoppers by catering to Millennials who Molnar says do not have credit cards. Without credit cards, the solution has become Afterpay to buy now and pay later with users, even deferring to the payment method to decide where to shop. In Australia, Afterpay is now the second-largest traffic driver after Google and last month drove four times as much traffic to Steve Madden as Instagram. Molnar also shared that brands report to seeing higher orders when customers use this payment method. As a Millennial himself, Molnar explained that Afterpay’s success is premised on a deep understanding of Millennials and Gen Zers as consumers, how they differ from each other, and how they differ from generational cohorts that predate them. At the core, Molnar says Millennials are just “deeply misunderstood.” Though Millennials will have you believe they are each unique, largely through social media, Afterpay has actually found Millennial shopping habits

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD https://ift.tt/2lPIfIJ