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Afterpay Day 2024 has come and gone, and the numbers are in. From total volumes to sector-specific trends, here's the lowdown on what went down—and what it means for the future.
A close look at the numbers: Overall Volumes Down by 4.8%
Let’s kick things off with the big picture: total transaction volumes took a hit, dropping by 4.8% from last year. This isn’t just a blip—it’s a sign that consumers are tightening their belts, likely due to rising costs and economic jitters.
Not all sectors are feeling the pinch equally:
- Health and wellness: A staggering 126.5% surge in transaction volumes. This sector is clearly on fire, as people prioritise their well-being.
- Fitness and outdoor gear: Up by 17.9%, showing that the outdoor boom is far from over.
- Home furnishings: Down by 22.3%. Looks like the home improvement craze might be cooling off as folks shift focus elsewhere.
What this means for you?
So, what’s the takeaway? The retail landscape is anything but static. With consumer behaviour shifting and economic pressures mounting, you need to stay sharp and adaptable.
You can do this by:
- Staying ahead of the pack using data dashboards that provide extensive insights into their customers’ preferences
- Promise more at checkout to reduce cart abandonment and increase customer confidence
- Deliver on your promise by perfecting the post purchase experience by optimising tracking, reliability and returns of deliveries
This slight decline in Afterpay Day 2024 may suggest customers are either holding out for bigger sales, like Black Friday, and becoming more selective with purchases. If they’re going to spend, it’s got to be worth it!
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