Online fashion retailers find flexible payments in style

Two e-commerce retailers are making their products more affordable, without changing prices.

International fashion e-commerce platform Shein and online fashion/lifestyle/home décor retailer Romwe are both offering the “Pay in 4” option with the Klarna Pay Later solution, which lets shoppers pay for purchases in four equal payments collected bi-weekly, with no interest or fees. The payments are automatically collected from the consumer's chosen method of payment – one installment at purchase and three further payments every two weeks.

According to Klarna, other retailers who offer the 'Pay in 4' option have seen an increase in average order value, more conversion, and higher purchase frequency. 

“Customers are the center of all we do at Klarna.” said David Sykes, head of Klarna U.S. “Our partnership with Romwe means flexibility for our customers to get the fashion and lifestyle essentials they want in a way that suits them. Sheins mission of offering on-trend styles that won't break the bank' fits seamlessly with our belief that our customers should get what they love without restrictions."
 
Several other retail chains have deployed Klarna Pay Later and the Pay in 4 option since summer 2019. These include Hibbett Sports, Abercrombie & Fitch, Rue 21, and H&M.