Revolutionizing Retail: Kredivo & H&M's Seamless Pact

To reinvigorate the allure of offline shopping experiences, Kredivo, a prominent digital credit platform catering to retail consumers, last week announced a groundbreaking collaboration with H&M, the globally acclaimed retailer celebrated for its blend of sustainable and affordable high-quality fashion offerings. The strategic partnership marks a concerted effort by Kredivo and H&M to meet the surging demand for offline fashion retail amid the ongoing pandemic, introducing practical and adaptable payment solutions to meet the evolving needs of consumers.

The aim of this collaboration is not just to bolster offline shopping but also to revolutionize payment methods in line with the growing necessity for seamless transactions in physical retail spaces. By combining forces, Kredivo and H&M seek to ignite a fresh wave of interest in offline fashion shopping among the public.

Krishnadas, Chief Commercial Officer of Kredivo, expressed his excitement, stating, "We are thrilled to introduce Paylater with 0% interest for up to 3 months for H&M enthusiasts who are devoted fans of this globally renowned fashion brand. This collaboration solidifies Kredivo's position as a Paylater payment method, fulfilling various daily needs, including fashion and lifestyle."

He continued, "One of our current business focuses is strengthening our presence in offline merchants, aligning with the growing preference for digital payment methods during offline shopping. We hope to expand our reach through this collaboration to serve tens of millions of users in the coming years."

The potential of this collaboration appears promising, considering the 77% year-on-year growth in transactions at offline Kredivo merchants during the first half of 2023. This surge was largely driven by increased transactions in the retail sector, particularly within the fashion domain, indicating a burgeoning interest in offline fashion shopping.

Anil Malhotra, Country Manager at PT Hindo, the franchised operator of H&M Indonesia, expressed delight over the partnership, highlighting, "We are delighted to announce our partnership with Kredivo as a Paylater pioneer to introduce the Paylater payment method across all H&M stores in Indonesia. This collaboration facilitates consumer payments during offline shopping and enhances the inclusivity of fashion products."

Moreover, Malhotra underscored, "The collaboration between H&M and Kredivo aims to empower individuals to express their unique fashion styles through affordable, high-quality H&M products while ensuring a seamless shopping experience. This partnership is a testament to our commitment to introduce sustainable fashion products from H&M to the public, contributing to creating a sustainable fashion future."

As a celebratory gesture of their alliance, Kredivo has prepared enticing promotions for consumers visiting the 66 offline H&M stores across Indonesia. Until December 1, 2023, Kredivo users benefit from a direct discount of Rp50,000 with a minimum transaction of Rp600,000, applicable for installment tenures of 3, 6, and 12 months.

The Kredivo and H&M collaboration not only signifies a major leap in enhancing the offline shopping experience but also reflects a commitment to cater to evolving consumer needs, offering a seamless and affordable approach to access high-quality fashion products, all while driving the industry towards a more sustainable future.