×
168
Fashion Jobs
SH MATRIX ENTERPRISES
Sales Manager
Permanent · Gurugram
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
DLIGHT ENERGY PVT. LTD.
Hiring For Area Sales Manager | Pune/ Nagpur | d.Light Energy
Permanent · Pune
NATURELAND ORGANIC FOODS PRIVATE LIMITED
Area Sales Manager (Chennai)
Permanent · Chennai
NATURELAND ORGANIC FOODS PRIVATE LIMITED
Area Sales Manager (Maharashtra)
Permanent · Mumbai
EXTRAMARKS EDUCATION
Area Sales Manager- B2B Sales
Permanent · Nashik
OLIVE GREEN CONSULTING LLP
Urgently Looking For Area Sales Manager
Permanent · National Capital Region
DEEP CHAND DIALYSIS CENTRE PVT. LTD.
Immediate Joining For Area Sales Manager @ Kolkata
Permanent · Kolkata
MEDLEY PHARMACEUTICALS LTD
Area Sales Manager/ District Manager - Bhopal
Permanent · Bhopal
DREAM HOME PLASTO WARE IND
Production Manager
Permanent · Alwar
MEDLEY PHARMACEUTICALS LTD
Area Sales Manager/ District Manager - Bhopal
Permanent · Bhopal
EXTRAMARKS EDUCATION
Area Sales Manager- B2B Sales
Permanent · Nashik
TITAN BIOTECH LIMITED
Area Sales Manager
Permanent · Hyderabad
OPERA CLOTHING PRIVATE LIMITED
Production Manager For Garment Manufacturing Factory
Permanent · Daman
LEVI'S
Associate Sap Ptp Business Analyst
Permanent · Bengaluru
FEDBANK FINANCIAL SERVICES LTD
Area Sales Manager For Gold Loan - Chennai
Permanent · Chennai
DR MEDITECH SURGICAL AND DIAGNOSTICS INDIA PVT LTD
Production Executive / Production Manager (Biochemistry & Hematology
Permanent · National Capital Region
INFEXN LABORATORIES PRIVATE LIMITED
Medical Representative/ Area Sales Manager
Permanent · Navi Mumbai
ELLIOTT MOSS
IT Sales Manager
Permanent · Mumbai
GRAND CHEMICAL WORKS
Area Sales Manager - Jaipur gt
Permanent · Kota
IGENETIC DIAGNOSTICS /HEALTH MAP DIAGNOSTIC PVT LTD
Area Sales Manager/Territory Manager
Permanent · Pune
RANDSTAD INDIA PVT LTD
Market Development Manager - Horeca Sales
Permanent · National Capital Region
Published
Dec 4, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Millennials using credit to buy fashion - Globaldata

Published
Dec 4, 2018

A new report has warned about the growing use of credit options amongst young online shoppers, as data reveals that over a quarter of millennials have used such payment options, like ‘buy now pay later’ in the past 12 months.


AFP


Fashion e-tailers are driving impulse purchases with the use of these credit options, which offer online shoppers the option to try an item at home before paying for the order. According to GlobalData, a data and analytics company, those aged between 25-34 years old are most likely to use these options, with 27.5% using credit in the past 12 months, followed by those aged 16-24 (24.8%) and 35-44 (22.9%).

There is no significant difference between male and female shoppers, with 17.9% of men and 19.5% of women using credit to buy clothing and footwear online.

“As UK retail spend continues to shift to digital channels and away from physical stores, retailers are focusing on ways to break down the barriers to purchase online in order to drive up conversion and capture shopper spend,” Sofie Willmott, retail analyst at GlobalData, commented.

“One crucial barrier for consumers can be a lack of funds, so many retailers have recently introduced credit options such as ‘try before you buy’ (which gives shoppers 14-30 days to pay), as well as ramping up promotion of existing credit methods.”

But whilst ‘try before you buy’ options are boosting online retailers’ sales - Asos said the introduction of a Klarna payment method helped it post a 23% increase in UK retail sales last year - they are also encouraging young consumers to get into debt.

Not only that, credit options are also driving an increase in return volumes, threatening online retailers’ profitability.

“As well as having drawbacks for consumers, credit options will also cause problems for retailers, despite their positive impact on sales. The rising usage of ‘try before you buy’ will result in increased returns volumes and require retailers to be equipped to process returns quickly and make items available for sale again straight away so that potential sales are not lost,” Willmott continued.

According to a GlobalData consumer payments insight survey, UK consumers owe an average of £1,144 to credit card companies.

Copyright © 2022 FashionNetwork.com All rights reserved.