This week, Pacsun will be the first major brand in the fashion and retail space to accept bitcoin and other cryptocurrencies using leading blockchain payment provider, BitPay. Cryptocurrency is a seamless way for consumers to pay online and is a popular form of payment for those who grew up in the digital age. Celebrity endorsements are pushing crypto adoption making it easy for those who have it to spend, and Pacsun is offering a new place for those with crypto to enjoy youth fashion.
"With digital sales doubling since last year, we understand the continued importance of creating an exceptional online shopping experience for our customers," said Brie Olson, President of Pacsun. "It's incredible to pave the way for the fashion and retail industry, being the first to offer cryptocurrency payments through BitPay, and we anticipate many other companies following suit considering the ease it brings to the checkout process."
"The Gen Z audience, our primary consumer, is very tech oriented, and we dedicate a lot of our efforts towards social media and ecommerce to align with their lifestyles and resonate with them on a more personal level," said Michael (Mike) Relich, Co-CEO at Pacsun. "Seeing their increasing desire towards cryptocurrency, it was clear that we needed to adjust and offer BitPay as another payment option, to further instill their confidence in us as one of their go-to retailers that truly listens."
"We are very excited that Pacsun has decided to adopt BitPay and add cryptocurrency as a form of payment," said Stephen Pair, Co-Founder and CEO of BitPay. "As one of the first major apparel retailers to accept cryptocurrency, and a leading digital Gen Z fashion brand, Pacsun shares our goal to let everyone live life on crypto making them a natural addition to our growing list of top brands adopting cryptocurrency."
Pacsun prides itself on learning from its core consumer of Gen Z. With cryptocurrency being one of the major trends currently among that audience, according to GOBankingRate.com, offering BitPay is helping bring adoption mainstream to Gen Z and provides Pacsun shoppers with another payment touchpoint in a form of currency that they are progressively using. A recent study by pymnts.com sighted more than 54% of current or former crypto owners are Gen Z.
BitPay and Pacsun both have robust social media followings, and to amplify the newest payment feature, the companies will roll out special content across platforms, including Twitter, Facebook, Instagram and LinkedIn. Pacsun will also work with influencers to create TikTok and Instagram content around BitPay and Pacsun. They will also host a branded livestream event with a guest influencer and a Pacsun executive.
It is just as critical for Pacsun to keep up with the fashion trends of their audience to offer the best styles as it is for them to keep up with lifestyle trends to really give customers what they want. This can be seen through a number of firsts this year by the brand, including the launch of its kids category, Pacsun Kids, gender-neutral line, Colour Range, as well as its place in the metaverse through its collaboration with ROBLOX, and in the digital and technology space through dedicated Livestream Shopping events, initiatives on TikTok, shoppable ads on Instagram, and much more.
BitPay makes cryptocurrency payments easy, any time, anywhere, and is one of the safest and most secure ways to pay online. Once a customer selects the Pay with BitPay button, the payment process begins - 1. Select crypto wallet, 2. Select the currency and 3. Scan the QR code to complete payment. Pacsun will support 11 cryptocurrencies under BitPay, including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Wrapped Bitcoin (WBTC), Dogecoin (DOGE), Litecoin (LTC), and 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD), along with the following Crypto Wallets and Exchanges:
- Exodus Wallet
- Blockchain Wallet
- Electrum Wallet
- Trust Wallet
- Ledger Wallet
- BRD Wallet