Emerging generations are more connected, informed, vocal and motivated than ever in driving movements that affect positive change. Most Millennials and Gen Z look upon the world’s problems not merely as passive spectators, but as active participants, eager to engage, strategize and mobilize their resources in order to make a difference. While chasing the latest must-have items will always be cool, it is aligning with companies that demonstrate shared social responsibility that defines many of today’s consumers: They want to do good and shop companies that are also socially conscious.
Today’s consumers routinely put their money where their heart is, and they seek merchants and payment providers who do the same. According to Euclid Analytics, 52% of Millennials feel it is important that their values align with the brands they like. And they expect brands to be authentic in engaging worthwhile causes, being transparent and committed to following through. Younger generations are attracted to companies that are bold and eager to take a stand. They prefer companies that lead the way in ethical initiative. In fact, according to Deloitte Research, 82% of Generation Z and 76% of Millennials will pay a premium for products they think promote social responsibility.
The pandemic has created financial hardship for many. Yet, the desire to give back has often increased even among young people who are strapped for cash. Sezzle’s Buy Now, Pay Later brand keeps a focus on ethical partnerships and social good initiatives to satisfy its users’ desires to manage and budget through financial dry spells, as well as to support good causes that are built into Sezzle’s business mission. By using Sezzle, consumers are engaged in giving back, be it through Sezzle’s collaboration to plant trees, award scholarships, or other initiatives. In a December 2020 survey of Sezzle customers, 90% said they would shop with a merchant more often if they could purchase using a socially responsible payments company.
Sezzle financially empowers the next generation by helping them to improve their credit, to learn to budget their purchases over time, and to help them on the road to spending responsibly. But the concept of payments with purpose takes this to the next level. By being empowered, you and your customers have the opportunity to make a difference. As the only Buy Now Pay Later company that is a Public Benefits Corporation and on the path to B-Corp status, Sezzle is proud of its many ethical and sustainable brand partnerships with like-minded retailers.
Prime example: Last fall, Sezzle and Ministry of Supply launched Starter Kits—a commitment to donate $250,000 in clothing and masks to help Americans during Covid-19. More than 2,400 kits were distributed to those who needed a fresh start but lacked resources.
Sezzle’s partners and their customers are able to support their favorite causes simply by joining forces with Sezzle, including building social and green initiatives that benefit the common interest, while continuing to offer them the ability to pay in four interest-free payments and build their credit through Sezzle’s key programs: Sezzle, Sezzle Up, and Sezzle Plus – an extended credit option that enables shoppers to make higher-priced purchases over a longer period.
As a financial co-pilot, Sezzle’s mission to financially empower the next generation is optimized by investing in financial awareness and by building a healthier environment for all. We are doing this globally in 2021 by making the following five commitments:
- Planting a tree for every new, active Sezzle user.
- Reducing our own carbon footprint and implementing a carbon offset program to neutralize any negative impacts our business has on the environment.
- Providing a full scholarship to the University of Minnesota to a student in need and to launch a new national scholarship for use at any accredited university.
- Providing free financial literacy, tools and tips via Sezzle University and other strategic initiatives.
- Creating a non-profit fund to be used for supporting causes that align with our social mission.
Sezzle, partnering with thousands of like-minded brands, is committed to providing credit access to those who need it, driving positive impact in the community and granting consumers financial freedom.