IKEA has decided to start offering Afterpay in its stores, becoming the latest major retailer to adopt a buy now, pay later strategy. The company hopes the move will attract customers as the cost of living puts pressure on families’ Christmas budgets. Afterpay data shows that 41% of people expect to use buy now, pay later platforms to buy at least half of their gifts this year.
IKEA has decided to start offering Afterpay in stores, becoming the latest major retailer to adopt a buy now, pay later strategy. (Getty Images/iStockphoto) IKEA said the payment method would create a “more convenient shopping experience”. “Affordability has never been more important for our customers and now with Afterpay we can offer a more flexible way to buy their dream home furnishings,” said Daniela Altiparmakova, IKEA Australia deputy digital manager. The payment method will be available in ten IKEA stores across the country or online. Neighbour conflict sparks second-worst mass shooting in Australia’s history View gallery Australians spent $5 billion using Afterpay for their purchases last Christmas, with home and garden stores such as Bunnings driving the growth. “Over the past five years, we’ve seen Afterpay sales grow 127 per cent in the home and garden category,” said Katrina Konstas, executive vice president and country manager of Afterpay. In September, Afterpay introduced self-regulated spending caps for Australians using the service. This allows users to choose their own spending limits through Afterpay. The average debt owed by Australians to the company was $964 in September 2024.