Afterpay for online shopping

The spring shopping season may have been sequestered to online activity, but it’s hardly a wash.

As online apparel sales continue to bounce back, fintech company, Afterpay, has released the first installment of its biannual global trend report, examining recent purchases of its 8.4 million users globally to pinpoint the season’s trends and shopping patterns. Americans represent Afterpay’s largest demographic at 4.4 million users.

Overall, just over 65 percent of Afterpay’s users are Millennials and Generation Z. Notably, a majority of Afterpay’s users are located in cities with high costs of living.

According to Afterpay’s data, Americans prefer to shop in the morning — 8 a.m. on the East Coast and 10 a.m. on the West Coast — and out of all groups are the most “beauty-obsessed.” Globally, 1 p.m. is the most popular time to shop.

The company has found its modern consumer to also be consistent in shopping habits, with over 65 percent of users making at least two purchases in the past six months. Afterpay noted, “what that return traffic tells us is that the Afterpay concept is resonating and consumers are coming to rely on it to budget.”

On average, 33 percent of U.S. Millennials say they use a budgeting tool to keep track of finances. In Australia and New Zealand, 67 percent of consumers use a budget and in the U.K. 90 percent of Millennials say they are actively managing money.

Afterpay 2020

Just over 65 percent of Afterpay’s global consumers are Millennials and Gen Z.  Courtesy Image.

On average, Afterpay sees consumers purchase three items each time they checkout, with fashion items seeing the highest category for the number of items purchased in a single transaction. The beauty and accessories categories are the second and third highest.

Moreover, according to the company’s data casual sneakers, uncomplicated maxi-dresses and barely there makeup rank among the top shopping trends in the U.S. The top five handbag silhouettes are clutches, shopper totes, backpacks, hobos and bumbags. Top items by state were crop tops in Arizona, hoop earrings in Illinois, sandals in California, and biker shorts in New York.

Top five beauty items purchased in the U.S. are kits, foundation, primer, eyeliner and pencils. The company notes that globally, young consumers are buying into a lifestyle when shopping for products, seeing top-selling products to be items attached to beauty influencers.

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