Neiman Marcus & Affirm partner to give customers flexible way to pay
By Pavithra R
Affirm, providing significant disruptive innovation to the financial industry, has announced partnering with Neiman Marcus to bring a more flexible and transparent alternative to customers shopping for luxury products.
Under the partnership, eligible shoppers can access their favourite designer fashion or accessories online and enjoy paying overtime on a schedule that suits their needs and budget. Eligible Neiman Marcus shoppers can choose Affirm at checkout and split the total cost of purchase over $50 into simple payments with terms from 6 weeks to 36 months depending on the cart size, for as low as 0% APR.
“Neiman Marcus was founded on the principle of building long-lasting and meaningful relationships with our customers. We are committed to providing all shoppers with access to leading luxury fashion and high-end products, paired with superior service. Partnering with Affirm not only allows us to reach customers who need payment flexibility and price transparency in the way they pay, but also increases our sales and average order value,” said Katie Mullen, Chief Digital Officer, Neiman Marcus Group.
Affirm charges no late or hidden fees and customers will be shown the total cost of their purchase upfront. Offering Affirm at checkout is expected to help Neiman Marcus increase overall sales, average order value, and customer repurchase rates.
“We know that consumers care a lot about price transparency and are increasingly eager to buy upscale fashion now and pay over time. We’re thrilled to partner with Neiman Marcus, an iconic brand that shares our commitment to providing a best-in-class customer experience, to make their luxury products even more accessible. By delivering a transparent payment option without penalties, we’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,” said Silvija Martincevic, Chief Commercial Officer, Affirm.
Founded in 2012, San Francisco-based Affirm offers a more transparent, flexible alternative to credit cards. The company operates as a financial lender of installment loans for consumers to use at the point of sale to finance a purchase.
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