Afterpay’s marketing is clearly targeted
toward younger millennials and Gen Z.
It’s consumer-centric, which
has been proven to be an effective
strategy with millennials and Gen Z.
Afterpay’s website also advertises
all of the retailers the brand works
with — organized by categories.
It could not be easier to find whether your favorite
retailer has partnered with Afterpay. But what happens
if someone misses one of the four installment payments?.
In The Know spoke to Ethan Taub, the founder
and CEO of Goalry, a company that offers
advice for reaching financial goals.
Taub believes that companies like Afterpay are taking
advantage of the stereotype that millennial and
Gen Z shoppers are all about instant gratification.
“If you do not pay on time [it] can be a nasty spiral to get
out of. If you pay on time, your credit score will not be
affected, but if you do not, there can be big consequences”.
it’s worth knowing there are safer ways to use Afterpay.
Customers should set up their account with a debit card
(not a credit card) and set up payment reminders