Marketing Affirm moves the needle for luxury watch marketplace
Chrono24, the largest luxury watch marketplace in the world, attracts customers who are willing to pay top dollar for unique timepieces. After showcasing Affirm monthly payments as part of a marketing campaign, Chrono24 saw a surprising number of U.S. shoppers opt for monthly payments, boosting sales volume.
Chrono24’s marketing tactic—deployed for the first time during the 2019 holiday season—brought 38% more Affirm sales volume than during the same period in 2018. And nearly 3 in 4 buyers who were approved to finance with Affirm accepted it.
The campaign appeared on Chrono24’s home page, as well as in emails and on social media to returning U.S. customers. Each placement included simple details about monthly payments with Affirm. Of the three marketing channels, the homepage widget performed best, said Christopher Kae, Head of Americas for Chrono24.
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He was also glad to see strong Affirm sales results among a younger audience—25% of buyers were Gen Z or millennials.
“It makes sense that we’re seeing more luxury buyers who are millennials interact with Affirm,” he said. “Many of them may be high earners just out of college or grad school, but they still have low credit limits on their credit cards.”
Kae said offering Affirm to Chrono24 buyers is part of the company’s aim to appeal to more watch enthusiasts. “We want there to be a payment option for every type of customer on our platform.”
Chrono24 also places a premium on trust and transparency to ensure its luxury marketplace continues to thrive. Kae said the two values were also a differentiator in choosing to work with Affirm.
“We didn’t want to partner with a company that might have predatory pricing. We knew Affirm was going to be part of the customer experience we offer, so we wanted to make sure our values were aligned,” he said.
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