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Afterpay Reports Record Sales in Q3 2021
underlying sales are up 123% from a year ago
Strong operating performance in Q3 FY21 across all regions with underlying sales up 104% on the prior corresponding period (pcp).
Quarterly performance on a constant currency basis was 123% higher than Q3 FY20.
Q3 FY21 underlying sales in the United States (US) and United Kingdom (UK) were up 211% and 277% respectively on Q3 FY20 on a local currency basis.
Based on Q3 FY21 performance, North America4 (NA) is now the largest contributor to underlying sales and outperformed the seasonally strong Q2 FY21 on a local currency basis.
March 2021 exceeded December 2020 and delivered the second highest monthly underlying sales ever recorded, with the US becoming the first region to record more than $1b in underlying sales in a single month.
Active5 customers globally increased by 75% to 14.6m (up from 8.4m in Q3 FY20), with NA and the UK reaching 9.3m and 1.8m active customers respectively.
Customer acquisition has continued to gain momentum in April, with a ~6% increase in the daily average number of new customers in the month to date (April) compared to the Q3 FY21 average.
Active3 merchants increased by 77% to 85.8k (up from 48.4k in Q3 FY20), with a number of major enterprise retailers launching across all regions during the period.
https://www.prnewswire.com/news-releases/afterpay-reports-record-sales-in-q3-2021-301272314.html
Exploring options for a potential US Listing
Afterpay is currently working with external advisors to explore options for a US listing given the US market is now the largest contributor to our business and is expected to continue to grow strongly.
While Afterpay intends to remain an Australian headquartered company, our shareholder base is increasingly becoming more globally focused. A US listing would further accommodate this growing interest.
There is no timeline set for a Board decision on a US listing and any listing would be subject to market conditions, approval by a US exchange and satisfying a number of other customary listing prerequisites.
Economic Impact Report
New research by Accenture has revealed the economic impact of Afterpay on the Australian economy including job creation, driving additional business for retailers, supporting the local fashion industry, and helping consumers to avoid credit card fees.
$6b in incremental sales for retailers and more than $3b in net benefits for 48,000 Afterpay merchants in Australia, including 38,000 small and medium-sized businesses.
$1.7b in sales for small and medium business owners, of which $1.3b were incremental.
$510m in sales for regional businesses.
63,000 jobs, direct and indirect, supported by Afterpay.
$110m in savings for consumers when compared to credit card interest and fees.
https://www.pymnts.com/buy-now-pay-later/2021/container-store-teams-with-afterpay-to-offer-buy-now-pay-later-payments/
Container Store Teams With Afterpay To Offer Buy Now Pay Later Payments
In a recent Afterpay survey, its customers said they would like to see participating merchants in the category of home and decor items, aside from fashion and beauty retailers.
“We know that consumers are using Afterpay for everything they want and need in their daily lives, and The Container Store is the perfect addition to our family of merchants,” said Melissa Davis, head of North America at Afterpay.
The Container Store is a specialty retailer of storage and organization products and solutions, as well as custom closets. AfterPay was founded in 2014 and is headquartered in Melbourne, Victoria, Australia. It offers BNPL options across Australia, the U.S., Canada, New Zealand, and the U.K., France, Italy and Spain, where it is known as Clearpay.