Affirm Teams With Stitch Fix As Fashion Sales Climb 20%

Core Insights - Affirm has partnered with Stitch Fix to enhance its buy now, pay later (BNPL) offerings, responding to increased consumer demand for fashion purchases [1][2] - Fashion sales through Affirm rose by 20% year-over-year from October to December, indicating a trend towards more responsible payment methods for clothing and accessories [2] - Stitch Fix is now part of a growing network of over 45 fashion merchants that have integrated Affirm as a payment option in the last six months [3] Consumer Behavior - Approximately two-thirds of BNPL users cite cash flow management as a primary benefit, while about one-third believe that pay-over-time options enable them to afford larger purchases [4] - Even high-income households face financial pressures, with around 50% of those earning over $100,000 and about one-third of those making over$200,000 living paycheck-to-paycheck [4] Market Trends - Luxury brands have lost around 50 million customers over the past two years as consumers seek lower prices, making the introduction of BNPL a strategic move to attract price-sensitive shoppers [5] - The integration of BNPL options is seen as a way to make luxury goods more accessible amid rising prices [5] Technology Integration - Stitch Fix has utilized artificial intelligence (AI) since its inception, combining technology with stylist expertise to enhance customer experience [6]