Ahead of Earth Day, Afterpay, the buy now, pay later payment solution provider, has announced two new sustainability-focused initiatives, engaging its consumers to get involved.
In its first initiative, launching on April 5, Afterpay is offering a “top-up” program that allows shoppers to add a $1 donation at checkout to benefit Magpies & Peacock, a nonprofit design house that aims to disrupt the cycle of waste in the fashion industry, and Surfrider, a nonprofit environmental organization that focuses on protecting the world’s oceans. Throughout the campaign, the company promises to match every donation.
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“As a generation-defining brand, Afterpay is aware that the majority of Gen Z and Millennials are conscious shoppers and look for ways to give back to their community,” said Melissa Davis, Afterpay’s head of North America. “Because Gen Z and Millennials care about how brands are impacting the environment, we are excited to offer our customers ways to make more mindful choices as they shop from the thousands of sustainable brands that we are partnering with, and help put the spotlight on organizations that are doing the right thing for our planet.”
Additionally, beginning mid-April, Afterpay will launch its first live shopping experience to feature sustainable brands with an integrated live shopping technology platform. The integrated shopping experience will live on the company’s website and give shoppers the opportunity to learn about sustainable brands that create a more circular economy with eco-friendly fashion and beauty as they watch influencers shop live from their favorite brands.
“At its core, Afterpay enables financial wellness and mindful shopping by offering an alternative to traditional credit products that profit from people revolving in debt,” Davis said. “Our approach to sustainability is one of shared value and mutual benefit for our customers and our employees. We are committed to supporting businesses and an approach that puts sustainability at the center of our business for our customers and employees.”
According to Davis, the sustainable shopping event supports Millennial and Gen Z shoppers who prefer to shop in more ethical and mindful ways.
“Shopping for clothes is inevitable, but it has ecological effects that influence the purchase decision,” Davis said. “Gen Z and Millennials are showing a growing demand to shop for clothing in an ethical way and purchase from brands who operate in a responsible way. In fact, younger generations are 63 percent more likely to buy from a company that contributes to a social cause. According to a McKinsey survey from 2020, three in five consumers said brands’ promotion of sustainability was an important factor in their purchasing decisions.”
Further, Davis said, the company recognizes that Gen Z and Millennials expect fashion and beauty retailers to embrace circular economy waste practices, with pre-owned fashion and accessories appearing in department stores.
“Afterpay inherently drives a more mindful shopping approach,” Davis said. “Our customers are making a very thoughtful choice in how they pay, thus making more mindful choices about what they are adding to their cart.”
Notably, a recent study by Afterpay found more than 60 percent of its consumers are currently shopping for higher quality items — ranking sustainability and supply chain transparency as important factors that they consider while making a purchase.
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