Online retailer The Hut Group and technology company, and Laybuy have announced a partnership to offer THG customers access to Laybuy’s flexible payment platform which spreads the cost of purchases over six weekly payments, completely interest-free.
The partnership will offer Laybuy’s innovative payment solution across THG’s portfolio of market leading beauty and wellness brands including Myprotein, lookfantastic, Glossybox, ILLAMASQUA and The Hut. As part of the partnership, customers can now spread the cost of their purchases on over 1,000 well-established brands, including Estee Lauder, MAC, Tom Ford, Jo Malone, Loreal, Beats by Dre, Barbour, Denby and Le Creuset.
Paying by Laybuy gives THG customers a more flexible payment option at the checkout for absolutely no additional cost. There are no hidden costs, interest is never charged, and all credit checks are powered by Experian to set responsible spending limits.
Matthew Moulding, Founder and Chief Executive Officer of THG, said: “Laybuy’s flexible payment solution fits perfectly with our customer-first approach and commitment to offering a seamless customer experience. Consumer buying behaviour continues to evolve and there is clear demand for innovative options like Laybuy, we look forward to working closely with them.”
Gary Rohloff, Co-Founder and Managing Director at Laybuy, said: “We’re incredibly excited to launch Laybuy across THG’s brands and bring our flexible payment option to even more customers across the UK. Laybuy offers a risk and interest-free option that works for both the customer and the retailer alike, and we look forward to commencing this relationship with The Hut Group from today.”
Laybuy launched officially in the UK in 2019 and has already seen retail partnerships secured with JD Sports, Footasylum, WHSmith, and TONI&GUY, amongst others. By partnering with Laybuy, retailers can offer their customers even greater choice at the checkout, totally interest and risk-free, enabling them to attract new customers and increase customer loyalty. To date, Laybuy’s retail partners have seen order values rise by up to 70%, online and in-store conversion rates increase by up to 50%, and new customer acquisition rise by 30%.
Laybuy has also continued to develop its platform since launching to improve the customer experience. The new Laybuy app on iOS and Android can be used to make purchases in-store with participating retailers, automatically setting up customers’ six interest-free payments in seconds.