Buy Now Pay Later specialist, Afterpay has expanded its offering with the debut of Afterpay Ads, a new suite of advertising products to help brands reach, acquire and activate high intent, loyal shoppers across its ecosystem.
Formed for brands with a focus on growing their base of Gen Z and Millennial shoppers, the new advertising options seek to accelerate customer engagement and business growth.
Mark Teperson, Chief Strategy Officer at Afterpay commented: “Our merchant partners already rely on Afterpay as one their most valuable channels to acquire and reach the next generation of shoppers – Millennial and Gen Z shoppers who represent the vast majority of the spending power in the market today.
“Afterpay Ads unleash the power of our ecosystem by giving brands a new way to promote products, collections and offers to Afterpay’s highly engaged young audience of shoppers.”
With Afterpay Ads, brands can place featured ads across the Afterpay app and enhance merchant promotions, products and offers on a pay-for-performance model. Brands simply choose the products they want to promote via sponsored listing formats, such as deals, products and collections, and pay only when a shopper engages with the ad.
Furthermore, the new feature underlines the growth and amplification of the BNPL sector and role it can play in bringing new eyes to partners, with early results showing a 20% lift in sales on average.