The JB Hi-Fi Group and The Good Guys will be available to Afterpay customers in the coming weeks. Customers will soon be able to shop in-store via the recently launched Afterpay card and online, and spend up to $1,000 at all JB Hi-Fi and The Good Guys stores nationwide.
By using Afterpay at the checkout customers can spread their payment over four, fortnightly instalments without incurring interest or fees if they pay on time.
News of the partnership comes at a time when Afterpay’s insights from its Next Gen Report showed that household and department store purchases are the fastest growing categories, especially among younger generations, growing above 80% year-on-year (YOY) for Gen Z and over 40% YoY for Millennials.
Despite Covid, spending on Buy Now Pay Later (BNPL) was up 106% for 2020, with debit card spending also increasing 38% in 2020.
Afterpay executive vice president for sales, Rachel Kelly said, “We are delighted to welcome the JB Hi-Fi group, with two of Australia’s most iconic retail brands, to Afterpay. Customers will be able to buy big ticket items such as electronics, whitegoods, appliances and home entertainment in a responsible manner, without incurring interest or fees.”