Dive Brief:
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On Wednesday, David's Bridal and Affirm announced a partnership to provide customers with monthly installment payments on their purchases, according to a press release emailed to Retail Dive.
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Thanks to the partnership, David's Bridal customers can select Affirm at checkout and pay for their items over three or six months without interest or late fees for any purchase over $100, according to the company press release.
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David's Bridal customers can use Affirm's installment payment option online beginning immediately and in stores this fall, per the company statement.
Dive Insight:
Add a partnership with Affirm to David's Bridal's growing list of recent digital initiatives. This year, the wedding retailer unveiled virtual appointments via Zoom, digital wedding planning tools and a mobile wallet collaboration with Popwallet. With COVID-19 halting or altering in-store operations for many retailers, the bridal retail market has been pushed toward more technological innovation.
"We like to call ourselves 'stress-free devotees', dedicated to making the shopping experience fun and easy for all of our brides," Kelly Cook, David's Bridal chief marketing and IT officer, said in a statement. "Our partnership with Affirm is one way to do just that, allowing a modern payment option that grants more flexibility and multiple ways to shop for a once-in-a-lifetime dress without settling."
According to Affirm, David's Bridal is among more than 6,000 retail partners offering its installment payment services at checkout. In late July, the company also teamed up with Shopify to provide payment plans for its merchants.
But as Affirm enlists more retailers to its network, its competitors have been gaining ground, too. This summer, Klarna, another installment payment company which reached nearly 8 million U.S. customers in June, introduced its Vibe loyalty program to reward customers for the repeat use of its services, and announced its presence on Google Pay. Meanwhile, Splitit integrated with Stripe Connect and Mastercard this year.
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August 31, 2020 at 09:31PM
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David's Bridal partners with Affirm for monthly payment plans - Retail Dive
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