Millennials Reached for Mobile Devices to Shop for Holiday 2019

Shoppers Prefer Sneakers and Cosmetics to Buy, Give and Keep this Season

News provided by

Afterpay

Jan 02, 2020, 08:00 ET

SAN FRANCISCO, Jan. 2, 2020 /PRNewswire/ -- Afterpay Limited today released its full consumer shopping trends for the Holiday 2019 season, from November 15 through the end of December 2019. Based on this data, mobile shopping was by far and away the preferred way consumers shopped and paid for items using the Afterpay service.  Nearly 80% of customers used mobile devices for their purchases this season, a 12% increase from 2018.

Sneakers continued to be the favorite item to purchase and wear, specifically with consumers in the US and the UK during the holiday season. Additional top sellers among American consumers included influencer-backed cosmetic brands, and warm blankets - showing the ease of gifting items that do not require sizing.

The most popular retailers and top selling brands demonstrated strong consumer interest in athleisure, cosmetics and lifestyle brands such as Ulta Beauty, Jeffree Star Cosmetics, Urban Outfitters and Nike among others.

American consumers shopped from all across the country with a few key cities flexing holiday budgeting with the Afterpay service including Los Angeles, Chicago, NYC, Houston and Philadelphia. Globally, those cities, as well as London, drove the most shopping volume for Afterpay.

Unsurprisingly, Black Friday was the most popular shopping day of the season globally for customers using the Afterpay service, primarily driven by the compelling holiday sales deals offered by many retailers. The second most popular shopping day was Boxing Day in Australia and New Zealand and Cyber Monday in the US.

Following is summary of all Afterpay 2019 Holiday shopping trends:

  • US top selling items:
    • Basketball shoes
    • Running shoes
    • Cosmetics
  • US cities with highest shopping volume:
    • Los Angeles
    • Chicago
    • Brooklyn
    • Houston
    • Philadelphia
  • Global cities with highest shopping volume:
    • Los Angeles
    • Chicago
    • Brooklyn
    • London
    • Houston
  • US best selling brands:
    • Colourpop
    • Nike
    • Levi's
    • Ray-Ban
    • Steve Madden
    • Jeffree Star Cosmetics
  • US top retailers:
    • DSW
    • Urban Outfitters
    • Ulta Beauty
    • GOAT
  • Global basket size increased by more than 3% in the 2019 Holiday shopping season relative to 2018

More than 3 million1 active customers have used the Afterpay service at a partner retailer in the U.S., the majority of which are Millennial or Gen Z.  In a 2019 Morning Consult survey, Millennials reported that they buy fashion and beauty more frequently than any other items such as books, entertainment, home goods etc.2 As Millennial and Gen Z consumers age, their spending power also grows. In 2020, Millennials will have the highest spending power of any generational group -  almost $15 trillion worldwide - and are expected to drive even more growth in ecommerce and digital payments.3

Afterpay has partnered with more than 9,0004 US brands and retailers. Visit Afterpay's Shop Directory for a complete list of brand and retail partners.

About Afterpay Limited
Afterpay Limited (ASX: APT) has transformed the way people pay by allowing shoppers to receive products immediately and pay in four simple installments over a short period of time.  The service is completely free for customers who pay on time - helping consumers spend money responsibly, without incurring interest, fees or revolving and extended debt.  Afterpay is offered by more than 42,500 of the world's best retailers and has more than 6.6 million active customers globally.   The solution is currently available in Australia, New Zealand, the United States and the United Kingdom where it is called Clearpay. Afterpay is on a mission to be the world's most loved way to pay.

More information can be found at www.afterpay.com; www.clearpay.co.uk

1As at 30 November 2019. Afterpay press release, 5 December 2019
2 Morning Consult Online Shopping Habits Survey October 2019
3 https://www.fool.com/investing/general/2014/01/08/the-future-of-the-world-in-13-truths-hint-its-all.aspx
4 As of 13 November 2019.

SOURCE Afterpay

Related Links

http://afterpay.com

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