Swedish fashion giant Hennes & Mauritz (H&M) is preparing to launch a new shopping experience in retail stores.
H&M customers will be among the first to be able to pick up clothes from new collections without paying a cent for them. The “buy now, pay later” trend is coming to traditional retail from e-commerce.
To date, this service has already been implemented in many online stores, and H&M will be the first fashion retailer to launch it in brick-and-mortar stores. According to the proposed conditions, the client will be able to take the goods they like home and pay for them only after two weeks. If the customer changes his mind during this time, he can return the product to the store for free.
The service will be tested in H&M retail chain in the Netherlands from October 2019, and then appear on the territory of Belgium. Why are we doing this? For the same reason we already offer return to store service and free shipping. Customers expect an optimal shopping experience, whether online or offline,” commented H&M spokeswoman Marianne Neriks.
In order to be able to pay for purchases within two weeks, an H&M customer needs to register via smartphone and scan a special QR code in the store. The service will allow the retailer to automatically issue an invoice for purchases made. The system was first tested domestically in Sweden in partnership with Klarna. The concept is currently being implemented in several European markets at once.
The company expects that the trend in demand for the post-payment service will grow around the world. Experts note that over time, an increasing number of large fashion retailers will join the program in the fight for the buyer. European consumer groups have criticized the initiative, noting that the practice of post-payment will encourage buyers with limited financial resources to spend more than they can afford.