Laybuy Partners With Australian Global Retail Giant Cotton On Group
New Zealand Buy Now Pay Later (BNPL) provider Laybuy announced today it is partnering with one of Australia’s largest global fashion and stationery retailers, Cotton On Group, to provide shoppers with an easy interest-free payment option in its Australian, New Zealand and United Kingdom stores.
Laybuy’s Co-Founder and Managing Director Gary Rohloff says the partnership will give Cotton On shoppers’ easier access to the retailer’s fashion brands, kids clothing and stationery.
“Our partnership with Cotton On provides consumers with a really easy option to buy the clothing or stationery they need, when they need it, and allows them to make interest-free repayments through regular instalments over six weeks,” says Rohloff.
“The real advantage of Laybuy is our customers don’t pay interest, ever!
Launched in New Zealand in 2017, Laybuy brings the traditional lay-by model into the 21st century and allows consumers to buy from retailers and spread their payments over six weekly instalments.
“We’re really excited to be partnering with the Cotton On Group and believe our partnership will deliver real benefits to Cotton On Group and their customers,” says Rohloff.
“Our experience tells us that offering Laybuy as a payment option helps retailers increase sales, lifts average basket sizes and helps them gain new customers. Our retail partners have seen their order values rise by over 60 percent and new customer acquisition increase by up to 70 percent.”
Cotton On Group is Australia’s largest global retailer and operates seven brands, including Cotton On, Cotton On Body, Cotton On KIDS, Rubi, Typo, Cotton On Lost, factorie and Supre, plus its philanthropic arm, Cotton On Foundation. It operates 102 stores in New Zealand.
Cotton On eCommerce General manager Brendan Sweeney says partnering with Laybuy was an obvious next step for the retailer and it provides its customers with a flexible and responsible payment option.
“We know our customers are looking for a range of different payment methods that best meet their needs. Buy now pay later services (BNPL) are growing in popularity in both Australasia and the UK and we are increasingly seeing it becoming the payment method of choice for many consumers,” says Sweeney.
“BNPL provides real value to our customers because it allows them to shop and receive the goods straight away but spreads the cost by allowing them to make regular interest-free payments. Our customers are embracing this option, which is why we are excited to be partnering with Laybuy.”
Customers will be able to make use of Laybuy as a payment option at Cotton On Group from 30 June 2020.