Last year, the “buy now, pay later” payment option revolutionized online shopping. Many brands allow this method of payment in their stationary stores. Why do customers use this option and how to introduce it to your sales and marketing strategy? We answer below.
In Poland, the most popular payment methods with deferred payment are Klarna, Pay Po and Twisto. They work with many brands whose customers have the option of “buy now, pay later”. These are safe and convenient payment methods, thanks to which, even before paying for purchases, you can receive products, check them and decide whether you want to keep them. If the goods are returned, the payment for them in the system will be canceled and the customer will not have to incur any purchase costs. By choosing the Buy Now, Pay Later option, the customer has up to 30 days to pay for their purchases. During this time, he does not incur any additional costs related to the deferred payment. A possible commission appears only when the customer decides to pay later than within 30 days and wants to spread it out in installments.
Deferred payment appeared for the first time in e-commerce and was adopted recklessly. According to the Basket of the Year 2022 report, 73% of the largest online stores in Poland already offer the option of deferred payments. According to the European Retail Banking Radar, in 2021 Poland was one of the leaders in the use of BNPL (Buy Now, Pay Later). As many as 61% of Polish consumers used shopping with deferred payment. This is a sign that Poles are boldly approaching this financing option. According to the results of another survey (January 2021), 80% of PayPo customers declared that they would use the deferred payment method also in brick-and-mortar stores, if such a solution were available.
The first brand that allows you to use the pay later method in its stationary stores in Poland is CCC – Ergo Store client, for whom we have completed several interesting projects, e.g. a series of stores in Poland and Serbia. The introduction of this payment method in traditional trade is primarily a response to the modern consumers’ needs. Combining the offline and online worlds is part of the CCC omnichannel sales strategy. The Group’s goal is to develop a unique trading ecosystem by building experience and convenience for customers.
Cashless purchases with deferred payment in CCC stationary stores are carried out using CCC’s own mobile application, in which the PayPo service has been made available. With it, the customer generates a code, which he presents at the checkout, and then approves his purchase on his smartphone. Postponing payment for 30 days does not involve additional costs for the buyer.
Deferred payments have also been launched in stationary stores by Empik. For now, this form of payment is available to users of the Empik mobile application with an active Premium or Premium Free package. The service can be used in 60 chain stores where the Pay&Go functionality is available. Just select the “Scan and pay” option in the application, add products to the basket and finalize the purchase. The transaction is completely safe, and above all fast and convenient – the customer completes the purchase fully independently, without having to go to the cash register, he can take the products home and pay for them for 30 days, without any additional costs.
These two examples show different possibilities of implementing the “buy now, pay later” service in stationary stores. The first option requires customer-seller contact, the second option is completely maintenance-free. These are not the only solutions that we can use in the case of deferred payment in the store. Perhaps tablets on which the customer can complete the order himself or separate self-service checkouts for QR codes generated in the application will prove helpful. Another interesting idea may be a shop completely devoid of service, where products have their own QR codes and we pay by scanning them and paying online.
When designing stationary stores, we must constantly follow trends. Deferred payment methods have revolutionized online sales. This is a trend that we should closely monitor and effectively implement in brick-and-mortar stores. In order to meet the needs of convenient shopping, we also have to adapt the cash register space to the requirements of modern customers. Ergo Store helps to create well-thought-out and profitable stores. We invite you to cooperate!
24.04.2024
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