Openpay can increase ATV by up to 140% whilst reducing returns by up to 20%, making it an appealing BNPL provider for fashion retailers.
This special report, sponsored by Openpay and published in The Times, examines recent shifts in buying behaviour, fighting fast fashion, virtual catwalks, and more. The featured infographic looks at changing fashion attitudes towards more sustainable apparel.
However, it also presents an expensive, and sometimes overwhelming, headache for retailers. Competition amongst retailers has led to increasingly flexible returns policies as brands seek to establish clear points of difference. This has created a situation where consumers use their own living rooms like they would the changing rooms in a bricks and mortar store. Many experts argue that this situation has been exacerbated by some ‘try now pay later’ operators offering products with zero up-front payment commitment, which encourage frivolous purchasing, increasing return rates further.