Neiman Marcus And Affirm Introduce A New Method To Pay For Luxury And Designer Fashion

Neiman Marcus, a Dallas-based luxury retailer recently announced a partnership with Affirm, a  financial products and services firm. This partnership will bring a flexible and transparent alternative to customers shopping for luxury products. Shoppers can now get access to the best of designers and brands online, including items from the iconic 2020 Neiman Marcus Christmas Book, and have the privilege of paying overtime on a schedule that fits you the best.

While shopping online, you simply have to select Affirm while checking out and split that cost in future. The total cost should be over $50 and has to stretch from six weeks to 36 months depending on the cart size, for as low as 0 per cent APR. There will be no hidden charges and customers will never be charged more. Affirm never charges customers any late or hidden fees. For example, a $200 purchase might cost $67 per month over three months at 0 per cent APR.

Neiman Marcu’s main aim was to create long-lasting and meaningful relationships with their customers. All shoppers can now get access to leading luxury fashion and high-end products, paired with superior service. This partnership will help it to not only reach out to new customers who need payment flexibility and price transparency in the way they pay but also increases their sales and average order value.

Customers are often worried about transparency and eager to buy high fashion with the option to pay over time. By delivering a transparent payment option without penalties, they’re giving more consumers the confidence to shop the way that works best for their budget, especially so they can look and feel their best going into the holidays.

Neiman Marcus joins more than 6,500 Affirm retail partners. Through this new partnership, Neiman Marcus will be able to increase their overall sales, increase average order value, and increase customer repurchase rates.  In 2019, merchants using Affirm reported 85 per cent higher average order values than other payment methods. And in the first half of 2020, nearly 70 per cent of Affirm loans were from repeat customers.