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Container Store Teams With Afterpay To Offer Buy Now Pay Later Payments

Container Store Teams With Afterpay To Offer Buy Now Pay Later Payments

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PYMNTS.com
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https://www.pymnts.com/buy-now-pay-later/2021/container-store-teams-with-afterpay-to-offer-buy-now-pay-later-payments/
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Storage solution retailer The Container Store is partnering with buy now, pay later (BNPL) platform Afterpay, the companies said in a Monday (May 17) press release.

The flexible spending and payments solution will be available starting mid-June for Container Store customers in physical retail locations as well as online. AfterPay enables people to pay for items purchased in four, interest-free payments.

“Retailers that offer customers flexible spending options see increased conversion, basket size and customer satisfaction,” said Satish Malhotra, CEO of The Container Store. 

Malhotra added that aside from giving their own customers a flexible payment option, AfterPay users will have access to The Container Store’s organization solutions and “reap the benefits of living a more organized and stress-free life now.”

In a recent Afterpay survey, its customers said they would like to see participating merchants in the category of home and decor items, aside from fashion and beauty retailers.  

“We know that consumers are using Afterpay for everything they want and need in their daily lives, and The Container Store is the perfect addition to our family of merchants,” said Melissa Davis, head of North America at Afterpay.

Davis added that she anticipates that the collaboration with The Container Store will “connect young, engaged shoppers” who are looking to create organized living spaces “while spending responsibly” and sidestepping interest-heavy debt.

Founded in 1978 and headquartered in Coppell, Texas, The Container Store is a specialty retailer of storage and organization products and solutions, as well as custom closets. AfterPay was founded in 2014 and is headquartered in Melbourne, Victoria, Australia. It offers BNPL options across Australia, the U.S., Canada, New Zealand, and the U.K., France, Italy and Spain, where it is known as Clearpay. 

The Container Store recently partnered with Instacart to offer same-day and one-hour delivery from the retailer’s 93  brick-and-mortar locations. The service launched in Texas last month and will expand to 33 states and Washington, D.C. 

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May 17, 2021 at 05:50PM
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